Federal Reserve Bank of Philadelphia (08/21/14)

The Federal Reserve Bank of Philadelphia’s August Business Outlook Survey suggests that the region’s manufacturing sector is continuing to grow. The diffusion index of current general activity increased to 28.0 in August from 23.9 in July. The index has increased for three consecutive months and is at its highest reading since March 2011.

The current indicators for labor market conditions suggest continued modest expansion in employment. The percentage of firms reporting increases in employment (25%) exceed the percentage reporting decreases (16%). The employment index remains positive for the 14th consecutive month.