PHILADELPHIA, Aug. 19 (UPI) -- Manufacturing in the Philadelphia region weakened significantly in early August, after slowing in June, the Federal Reserve Bank of Philadelphia said.
The bank's 2011 Business Outlook Survey, which indicates future economic activity, suggests factories can expect growth over the next six months. Firms reported declines in shipments, new orders employment and work hours.
"The survey's broad indicators of future activity continue to suggest that the region's manufacturing executives expect growth in business over the next six months, but optimism has waned notably in recent months," the bank said. UPI
