Philly Fed Index Comes In Below Expectations At 19.3

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Headline: 19.3Expectations: 20.0

Analysis: Disappointing fall from that uber-high 24.3 in December (that was eventually revised down).

Below expectations, but not by much.

Last Month: The Philly Fed index surged in December to a 24.3, crushing expectations. That number was eventually revised down to a 20.8. There was significant concern over the rise in prices paid, over the more limited rise in prices received.

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