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.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.