Philly Fed Beats Expectations

The Philly Fed manufacturing index beat expectations.

The report’s headline index came in at 20.7, beating expectations for a decline to 19.8 from 22.5 last month.

The latest report also showed that labour market indicators suggested “some moderation” from last month.

In last month’s report, which came in slightly below expectations, the labour market conditions index rose to its highest level since May 2011.

Thursday’s report also showed that future manufacturing conditions fell from higher readings but still reflects general optimism about the next six months.

More to come …

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