The general business activity index from the Philly Fed’s manufacturing survey was a reading of 22.3 in September. This is a significant increase from the 9.3 reading in August and is the highest the index has been since March 2011. Readings above 0 indicate economic expansion in the manufacturing sector, so this figure suggests expansion at a faster pace than in August.

September’s reading was composed of 36.2% of the businesses surveyed reporting that business conditions had improved during the month, while 13.8% reported that conditions had worsened.

Philly Fed Manufacturing

Philly Fed Manufacturing Table September 2013 600x415 Philly Fed Manufacturing Blasts To 22.3

The Philly Fed is the second of the five Federal Reserve banks that conduct manufacturing surveys to report for the month of September. Currently, all five Fed surveys indicate economic expansion in the manufacturing sector.

US Leading Business Surveys September 19 2013 600x355 Philly Fed Manufacturing Blasts To 22.3

Via: floatingpath.com