Philly Fed Index MISSES Expectations At 7.3

elton brand of the philadelphia sixers

Photo: Wikimedia Commons


Weakish report. The January Philly Fed index came in at 7.3 (which shows growwh) though that’s below estimates of 10.3.

There was some decent news on hiring.

From the release:

  • labour market conditions continue to show improvement, but the current employment index was virtually unchanged from December’s reading.
  • The percentage of firms reporting an increase in employment (21 per cent) was higher than the percentage reporting a decline (10 per cent).

The full announcement is here.


ORIGINAL POST: Last big economic data release of the day: The January Philly Fed index comes out at 10:00 AM.

Analysts expect a 10.3 reading, which is right in line with last month’s reading.

Compared to other regional manufacturing surveys, Philly Fed tends to get a lot of attention.

We’ll be particularly interested in hiring intentions.

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