MarketWatch reports the Philadelphia Federal Reserve in its June Business Outlook Survey states manufacturing in the region is down for this month as firms noted a decline in new orders and shipments. Employment remained nearly the same, but average hours fell. More companies experienced a decline in prices for their products than experienced increases. Compared to the Nov. 2011 survey, fewer companies expect to decrease their capital spending, but 60% more firms plan to keep their capital spending constant. MHProNews has learned the respondents expect business to pick up in the next six months.
(Photo credit: Joseph Kaczmarek/The Post-Standard)