E.J. Antoni: Manufacturing activity strengthens in June as orders and capital spending rise

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Philadelphia manufacturing tops forecasts in June

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E.J. Antoni: Manufacturing activity strengthens in June as orders and capital spending rise — Philadelphia manufacturing tops forecasts in June

E.J. Antoni reports that manufacturing activity in Philadelphia increased in June, with both new and unfilled orders, as well as planned capital expenditures, experiencing significant growth. Shipments and employment also rose, albeit at a more modest pace.

Inflationary pressures in the region remain elevated, according to the latest survey results from the Federal Reserve Bank of Philadelphia.

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Antoni recently reported that U.S. utility prices fell 1.5% following the onset of the Iran war, citing abundant natural gas supply and limited exports. In April, he also noted that the Dallas Fed's trimmed mean PCE inflation rate edged down to 2.3%. These updates come as inflation pressures persist in the Philadelphia region.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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