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Us Factroy Activity Falls In July

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Factory Activity Shrank Further In Mid-Atlantic Region in July

Published: Thursday, 16 Jul 2009 | 10:17 AM ET

Factory activity in the U.S. Mid-Atlantic region contracted for the 10th consecutive month in July, a survey showed on Thursday, posting a worse than expected decline.

The Philadelphia Federal Reserve Bank said its business activity index was at minus 7.5 in July versus minus 2.2 in June.

Economists polled by Reuters had forecast a reading of minus 5.0. Their 51 forecasts ranged from minus 10.8 to positive 3.0.

Any reading below zero indicates contraction in the region's manufacturing sector.

The survey covers factories in a region encompassing eastern Pennsylvania, southern New Jersey and Delaware and is looked at closely as one of the first indicators of the health of the U.S. manufacturing sector.

http://www.cnbc.com/id/31941991

Anyway, JP Morgan and Gold Sacks are booming so who gives a fu*k about factories? Right?

Edited by MOP

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