PHILADELPHIA, PA—Manufacturing activity in the Philadelphia region increased modestly in January, according to firms responding to the Philadelphia Fed's Manufacturing Business Outlook Survey. The survey's current indicators for general activity and new orders fell from their readings in December, suggesting a slower pace of growth.
Firms reported continued moderation in price pressures, attributable to lower energy costs. Overall, the Fed says firms reported that lower energy prices were having overall net positive effects on manufacturing business. The survey's indicators of future activity show continued optimism about continued growth over the next six months.
Indicators Suggest Slower Pace of Growth
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