Firms responding to the June Business Outlook Survey of the Philadelphia Federal Reserve indicated weaker business conditions in the region that includes Delaware, Pennsylvania and New Jersey. The report contributed to a big drop in financial markets on Thursday. The report contributed to a big drop in financial markets on Thursday.
The survey’s indicators of future activity remained positive and improved slightly, suggesting that the current weakness in activity is expected to be short-lived.
Click on the link below for the Fed release.
via June 2012 Business Outlook Survey – Indicators Suggest Modest Growth – Philadelphia Fed.
