Philly Fed: Growth in regional manufacturing activity slowed in August

"Growth in regional manufacturing activity slowed in August, according to results from this month’s Manufacturing Business Outlook Survey," the Federal Reserve Bank of Philadelphia reported on Thursday.

Key highlights

• The diffusion index for current general activity decreased 14 points this month to 11.9, its lowest reading in 21 months.
• Nearly 32 percent of the manufacturers reported increases in overall activity this month, while 20 percent reported decreases. 
• The new orders index fell 22 points to 9.9. 
• The firms continued to report overall higher employment, but increases were less widespread this month.
• The survey’s current price measures moderated slightly but remain elevated, indicating that price increases for both purchased inputs and the firms’ own manufactured goods remain widespread.