PHILADELPHIA -- Activity in the region's manufacturing sector continued to weaken this month, according to firms polled for the Philadelphia Federal Reserve Bank’s April Business Outlook Survey.
Indexes for general activity, shipments, new orders, and employment all remained negative this month and decreased from their readings in March.
A significant share of the manufacturers continued to report price pressures, and more firms reported higher prices for their own products.
Despite the weakness in current activity, the region's manufacturing executives were cautiously optimistic about future activity, with most future indicators showing improvement this month.
Firms expect no increase in employment over the next six months, and some firms have cut back, delayed, or postponed planned capital spending.
