Manufacturing Activity in Philly Region Jumps

By CHRISTOPHER S. RUGABER
|  Thursday, Jul 18, 2013  |  Updated 11:34 AM EDT
View Comments (
)
|
Email
|
Print
Manufacturing Activity in Philly Region Jumps

Getty Images

advertisement

Manufacturing activity in the Philadelphia region grew in July at the fastest pace in more than two years, suggesting factories may help support economic growth in the second half of the year.

The Federal Reserve Bank of Philadelphia says its index of regional manufacturing activity jumped to 19.8 in July. That's up from 12.5 in June and the highest since March 2011.

A gauge of hiring jumped into positive territory for the first time in four months and shipments increased. Orders also rose, though at a slower pace than June.

The jump follows an increase in manufacturing in the New York region reported by the New York Fed. The gains suggest that manufacturing is rebounding after a sluggish first half of the year.


More stories at NBC10.com:


 

 


Get the latest from NBC10 Philadelphia anytime: Android/iPhone/iPad Apps | SMS Alerts | Twitter | Facebook | Google+ | Instagram | RSS

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
What's New
FlyeredUp: Win 2 Tickets to Flyers Playoff Game
Win two tickets to the first... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out