Philly Fed Horrible, Leading Indicators In Line

Leading Indicators and the Philadelphia Fed Index are giving mixed signals. Leading indicators came in at 0.1%, slightly higher than the 0.0% estimate, but the Philly Fed Index plunged to -17, well below the -10 estimate.

Leading indicators is the broader economic measure and is probably a better indicator of how the economy is doing. The Philadelphia Fed index is localised and limited only to manufacturing.

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