Philadelphia Fed Business Outlook Survey, May 2003

- Central Banking staff
- 16 May 2003

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The region's manufacturers report weaker activity for the second consecutive month in April's Business Outlook Survey from the Philadelphia Fed. Indexes of general activity, new orders, and shipments all declined this month. Firms surveyed also reported declines in employment. Despite the current weakness in manufacturing, most future indicators, which reflect expectations for the next six months, suggest a fairly high degree of optimism.

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The region

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