Philly Fed Index BEATS Expectations At 12.5, Big Jump In Employment

Philadelphia City HallPhiladelphia City Hall

Photo: John Salvino via Flickr

UPDATE:A solid report.

The headline number on the March Philadelphia Fed index jumped from 10.2 to 12.5, beating expectations of 12.0.

The employment sub-index rebounded nicely from 1.1 to 6.8

New Orders were a big weak, dropping from 11.7 to 3.3, though again, that’s still growth.

Bottom line. A solid report. Confirms that the economy is not falling off the rails yet.

Read the full report here >

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More to come…

This is our last big economic datapoint of the day.

At 10:00 AM, the March Philly Fed index comes out.

Already today we got a strong number from the Empire Fed, another regional survey.

Expectations are for the index to rise to 12.0 from 10.2

We’ll have the number here live.

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