The Philadelphia Federal Reserve says its business outlook survey declined 15.7 points to -6.3 in February.
Consensus expectations was for a reading of 8.0, down from 9.4 prior.
It’s the lowest reading in about a year.
Factory and new orders both dipped into negative territory. The employment sub-index remained positive but fell 5.2 ponits.
The future outlook sub-index improved.
The Phily Fed’s website is currently down.
Here’s what it’s been looking like recently: