Investing.com - The Philadelphia Fed's manufacturing index unexpectedly fell in December, to a reading of 9.4 from 12.9 in November, the Philly Fed reported on Thursday.
The consensus forecast had been for a reading of 15.6.
Any reading above zero indicates improving conditions and below indicates worsening conditions.
With regard to future activity in the sector, new orders increased to 14.5 in December, compared to prior month's reading of 9.1.
The employment index advanced to 18.3 in December, compared to a prior reading of 16.3, indicating a faster pace of hiring.
Meanwhile, the prices paid index fell to 38.00 this month from 39.30.
The Philly Fed noted that the survey’s broad indicators were positive, but their movements were mixed this month.
“The survey’s future indexes indicate that respondents continue to expect growth over the next six months,” the report concluded.