Wall Street Journal (06/20/13) Cynthia Lin
According to the Federal Reserve Bank of Philadelphia, business conditions for mid-Atlantic manufacturers in June climbed to levels unattained since April 2011. The index of general business activity within the factory sector hit 12.5, up from -5.2 in May, despite predictions from economists surveyed by Dow Jones Newswires that the index would only recover to -2. The New York Federal Reserve Bank’s index also rose, jumping to 7.84 from -1.43 in May, but Markit’s flash purchasing managers index slipped to 52.2 for June, demonstrating minimal expansion for U.S. factories. The Philadelphia Fed subindexes were generally positive, as both new orders and shipments increased; however, the employment index rose only three points to -5.4.