WSJ: Factory operators doing business in the Philadelphia Fed’s district saw already-strong growth heat up further in March to the best pace in nearly three decades, as inflation pressures remained persistent.
The Federal Reserve Bank of Philadelphia reported Thursday that its index of general business activity for manufacturers moved up to 43.4, the best reading since January 1984, from 35.9 the month before. Economists had been expecting a modest slowing in the rate of expansion, and had predicted the index would come in at a still very respectable 30.0…
Regional factory surveys, such as the Philadelphia Fed’s, have been turning in strong performances over recent months that have been largely confirmed in national manufacturing reports. Earlier this week, the New York Fed reported an expansion of growth in its barometer of factory output. The manufacturing sector has consistently been a bright spot over the course of the recovery, leading the rest of the economy out of recession….
Thank you Fred