The Philadelphia Fed’s business outlook survey came in at 15.4.

Consensus forecast was for a reading of 14.0, versus from 16.6 in the prior month.

Price increases were more widespread this month, consistent with gains in producer and consumer prices we’ve just seen. The prices received index, reflecting firms’ own final goods prices, increased, from 4.3 to 17.0. — the highest reading since May 2011.


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