The Philadelphia Federal Reserve Bank’s September Outlook Survey reported virtually no growth. That’s an improvement from the declines posted of late.
The manufacturing survey’s indicators for general activity and new orders both improved from last month, but growth remained at around zero. The Philadelphia Fed’s area includes Delaware.
Firms reported continuing declines in shipments, employment, and hours worked. Indicators for the firms’ expectations over the next six months, however, improved notably in September, although the same firms forecast continued deceleration in production growth in the fourth quarter.
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via September 2012 Business Outlook Survey – Indicators Suggest Flat Growth – Philadelphia Fed.
