Philadelphia's June Business Outlook Survey shows weaker conditions this month. The Philly Fed Manufacturing Index fell from -5.8 to -16.6, the lowest since Sept. 2011.

The survey's indicators for general activity, new orders, shipments, and average work hours were all negative this month, suggesting overall declines in business. Sources: Philadephia Federal Reserve (6/21)

Interestingly, despite current conditions worsening, outlook has improved. The index of future activity for the next 6 months headed higher from 15.0 to 19.5.

PhillyFedJune2012

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