Manufacturing Business Outlook
Regional manufacturing activity softened in November, as per the latest Manufacturing Business Outlook Survey. The current general activity index slipped into negative territory, falling from 10.3 to -5.5, indicating a contraction. However, the new orders (8.9) and shipments (4.5) indexes remained positive, suggesting some resilience.
Employment trends improved, with the employment index rising to 8.6 after flat results last month. Meanwhile, the average workweek index surged to its highest level since April 2022 at 17.4. Input and output prices increased at slower rates, with firms reporting a median price hike of 3.0% over the past year.
Firms’ Expectations
Despite current softness, manufacturers hold an optimistic six-month outlook. The future general activity…
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