The Federal Reserve Bank of Philadelphia says manufacturing activity in the region increased this month, according to firms responding to the January Manufacturing Business Outlook Survey. The survey’s indicators for current activity, new orders, shipments, and employment were all positive and increased from their readings in December. The survey’s future activity indexes remained at relatively high readings, suggesting continued optimism about growth for the next six months.
Nearly 28% of the firms reported higher employment, while 9% reported lower
employment. The average workweek index remained positive but edged down three points.