FRB Philadelphia reported Thursday on further decline of manufacturing business activity within its regional territory to -12.5 in February from -5.8 in January.
The new orders index declined to -7.8 from -4.3 in January, while shipments index increased to 2.4 from 0.4. Labor conditions improved slightly. The important hiring index rose to 0.9 from -5.2 in January. The workweek index improved to -1.6 from -8.3. The prices-paid index slowed to 8.9 from 14.7. The prices-received index rose to -0.5 from -1.1.
Earlier Thursday, Markit said that factory activity in the USA declined to 55.2 in February from a final 55.8 in January. Meanwhile, output jumped to its highest in almost two years.