Philadelphia Fed reports improvement in manufacturing sector - Triangle Business Journal:

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The Philadelphia Fed said East Coastf manufacturing and production firms reported improvesd numbers for June in terms ofnew orders, productiob activity and shipments. The manufacturers surveyedc by the PhillyFed did, however, report continued cuts in jobs and work The U.S. manufacturing industry ranging from automakers in the Rust to electronics and aviation firmx in Western states such asArizona — have been pinchedr by the pullback in businesss and consumer spending, the credit crunch and reeling real estate markets. The Phillh Fed’s manufacturing index came in atminus 2.2, compared with minuss 22.6 in May.
A score of zero indicates flat The index has been in the negatives range for 18 of the past 19 with September 2008 beingthe exception. The Philly Fed survey queried East Coast manufacturing and industrial firm s but it could indicat theoverall U.S. economy, including in the hard hit couldbe improving.