Mumbai, Aug. 20 -- Federal Reserve Bank of Philadelphia stated manufacturing activity in the region continued to expand overall, according to the firms responding to the August Manufacturing Business Outlook Survey. The survey's indicator for general activity rose to a five-year high. The new orders and shipments indexes moved lower but remained elevated. The employment index rose, continuing to suggest overall gains in employment. Both price indexes declined this month but remained elevated.
The diffusion index for current general activity rose from 41.4 in July to 47.4 in August, its highest reading since April 2021. Nearly 57 percent of the firms reported increases in activity, while 10 percent reported decreases; 29 percent of the firm...