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2025-09-18 20:55:24
Manufacturing activity unexpectedly surges, improving the economic outlook. (1) The Philadelphia Federal Reserve released a report on Thursday showing that manufacturing activity in the region expanded faster than expected in September. (2) The business activity index rose sharply to 23.2 in September from -0.3 in August, reaching its highest level since January this year and far exceeding the agency's forecast of 2.0. (3) Data showed that nearly 40% of companies reported an increase in activity, while the proportion reporting a decrease fell to approximately 17%, reversing the contraction seen in the previous month. (4) Both the new orders and shipments indices rose, with the new orders index returning to growth after a decline in the previous month. (5) While the price index (including both prices paid and prices received) has slowed, it remains at a high level. (6) Future indicators show that companies generally expect continued economic growth over the next six months.
