Philly Fed Index Comes In At Insanely Strong 24.3

Headline: 24.3

Expectations: 16

Details, from the Philly Fed:

Results from the Business Outlook Survey suggest that regional manufacturing conditions continued to improve in December. All of the broad indicators remained positive and suggest an expansion of activity. Increases in input prices were more widespread this month, and more firms reported increases in prices for their manufactured goods. The survey’s broad indicators of future activity suggest that optimism among the region’s manufacturing executives also continues to improve.

Prices are rising, good news for those looking for signs of inflation, but bad news if you’re not.

Check out the details on the higher prices that have everyone worried here >
Background: The Philly Fed index came in blisteringly hot in November, up to 22.5. Yesterday’s Empire State Manufacturing Index showed continuing strength, so today’s beat is not a complete surprise, but the size of it is.


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