Business improving for Phila. manufacturers

A welder for NuWeld, Inc., of Williamsport, which started business in a garage in 1996 welding dumpsters back into shape, grinds a weld joint smooth. ( CLEM MURRAY / Staff Photographer )
A welder for NuWeld, Inc., of Williamsport, which started business in a garage in 1996 welding dumpsters back into shape, grinds a weld joint smooth. ( CLEM MURRAY / Staff Photographer )
Posted: March 22, 2014

Manufacturing was rebounding this month in the region after suffering a setback due to the severe winter, the Federal Reserve Bank of Philadelphia reported on Thursday.

The closely watched survey's broadest measure for general factory activity - new orders and shipments - returned to positive numbers in March from a negative reading in mid-February, the bank said.

Seventy-five factory operators responded to the latest survey, said Mike Trebing, senior economic analyst at the bank.

A month ago, the Philly Fed said severe winter weather had taken a toll on factories, pushing the manufacturing index downward for the first time in nine months.

Conditions have improved in the weeks since that survey, employment levels have begun to steady, and managers have shown optimism about adding workers over the next six months, the survey said.

The latest survey's primary index of factory activity increased from minus 6.3 in February to 9.0 this month. Readings above zero indicate expansion.

The Philly Fed region covers Eastern Pennsylvania, South Jersey, and Delaware.


rkanaley@phillynews.com

215-854-5114

comments powered by Disqus
|
|
|
|
|