U.S. regional manufacturing continues to improve in April: survey

HOUSTON, April 15 (Xinhua) -- U.S. Federal Reserve Bank of Philadelphia on Thursday reported that manufacturing conditions in the region continued to improve in April.

According to the April Manufacturing Business Outlook Survey, the indicators for general activity, shipments, and employment all rose. The survey's future indexes indicate continued optimism about growth over the next six months.

The diffusion index for current manufacturing activity rose to 50.2 this month, its highest point in nearly 50 years. The current new orders index edged down while the current shipments index increased.

The survey showed that the current employment index increased to 30.8 this month, its highest recorded reading. Over 35 percent of the responding firms reported increases in employment, while only 4 percent of the firms reported decreases.

This month's diffusion index for future general activity rose to its highest reading since October 1991. Seventy-one percent of the firms expect increases in activity over the next six months. The future new orders and shipments indexes, the future employment index, and the future capital spending index all increased.

The Manufacturing Business Outlook Survey is a monthly survey of manufacturers in the Third Federal Reserve District covering eastern Pennsylvania, southern New Jersey and Delaware.

The Federal Reserve Bank of Philadelphia is one of the 12 regional Federal Reserve Banks that, together with the Board of Governors based in Washington, D.C., make up the Federal Reserve System.