Manufacturing Sector Shows Slower Growth, Rising Prices
The Philadelphia Federal Reserve’s February 2025 Manufacturing Business Outlook Survey indicated continued expansion in regional manufacturing, although key metrics showed declines. The index for general activity fell sharply from 44.3 to 18.1, while new orders and shipments also dropped but stayed above their long-term averages. Employment growth slowed, with the employment index down to 5.3 from 12.3. Firms reported rising input costs, with the prices paid index hitting its highest level since October 2022. Expectations for future growth remain positive, albeit more subdued.
Price Pressures Persist Across Sectors
Both input and output price indexes rose to multi-year…
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