Manufacturing activity in the region increased overall, according to the firms responding to the January Manufacturing Business Outlook Survey. The survey’s indicators for general activity, new orders, and shipments rose sharply and reached multiyear highs. The employment index moved higher and continues to suggest increasing levels of employment overall. The price indexes indicate overall increases in prices, and both indexes rose above their long-run averages. The survey’s broad indicators for future activity rose, suggesting more widespread expectations for overall growth over the next six months. The diffusion index for current general activity jumped from a revised reading of -10.9 in December to 44.3 in January, its highest reading since April 2021 (see Chart 1).* This is the index’s largest monthly increase since June 2020. Nearly 51 percent of the firms reported increases (up from 19 percent last month), far exceeding the 7 percent rep post: Philly Fed Mft Index 44.3, best since April 2021 pic.twitter.com/zQXsQRrdEw