Monthly survey finds drop in Philadelphia-area manufacturing
A monthly outlook survey taken by the Philadelphia Federal Reserve shows a drop in Philadelphia-area manufacturing, including declines in new orders, employees and average hours worked.
The survey was taken between Aug. 8 and Aug. 16, as the Business Journal reports — not exactly the most stable time for the financial markets.
Almost 40 percent of the firms surveyed said seasonal factors have an influence in monthly production, and 29 percent have scheduled slowdowns or shutdowns during the summer months.
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