Although survey indexes improved somewhat this month, they still suggest continuing decline in regional manufacturing activity. The firms participating in the survey report continued declines in employment and average work hours this month.
Indexes indicate smaller declines in firms' current orders and shipments.
Measures of change in prices for inputs and final products are close to the levels in the previous survey. This month, firms were more optimistic about conditions six months into the future. Some of the improvement in shipments may be a result of improved delivery times and reductions in order backlogs. Demand for labor continues to be weak. Price Pressures Are Latent Survey participants reported little change in price pressures this month, although price increases for inputs remain evident.