The Philadelphia region’s manufacturing sector showed improvement in December as the general business conditions index climbed to 24.3 from 22.5, according to this month’s Federal Reserve Bank of Philadelphia Report on Business.
Economists predicted a reading of 15.0. Prices paid rose to 51.2 from 34.0 last month, new orders expanded to 14.6 from 10.4, shipments slid to 7.3 from 16.8, and unfilled orders rose to 6.5 from 3.7.
The index for general business conditions in six months rose to 50.5 from 49.0. Capital expenditures grew to 30.1 from 20.2.