5 Ugly Details From Today's Philly Fed Survey

phillies

Photo: AP

Regional manufacturing activity continued to contract in September according to today’s Philadelphia Fed Survey but numbers were better than last month.Most indicators stayed in negative territory though firms reported a slight improvement in employment.

While firms said they expect business activity to pick up over the next six months. Today’s business condition’s activity combined with higher than expected inflation figures, a rise in country-wide jobless claims and terrible manufacturing data out of New York shows the U.S. economic recovery has a way to go before it gets back on track.

The General business conditions index was worse than expected

The current new orders index gained 16 points from August but remained in negative territory

Shipments fell further to -22.8 from -13.9

More firms are shrinking their workweek

The price index is heading back up

If you thought that was bad, look at poverty in America...

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