Philly Fed crushes expectations

The Philadelphia Federal Reserve’s latest manufacturing report came in at 15.2, crushing expectations for a reading of 8.0.

This is the highest reading for the measure since December.

The report showed that demand for manufactured goods increased while employment also expanded and the number of firms increasing employment exceeded the number of firms trimming workers.

More to come …

NOW WATCH: Forget the Apple Watch — here’s the new watch everyone on Wall Street wants

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at