Headline: 43.4Expectations: 28
Analysis: Last month, the Philly Fed number blew everyone away and now it has done it again.
The number is the highest for the index since 1984.
Demand continues to rise across the board and the employment situation is improving, according to the release.
But if your eye is on inflation, the higher price problem is still front and centre, though this prices paid index actually fell this month.
Firms continue to report price increases for inputs as well as their own manufactured goods. The prices paid index declined 3 points this month but has still increased 51 points over the past six months. 60-four per cent of the firms reported higher prices for inputs this month. On balance, firms also reported a rise in prices for manufactured goods: The prices received index increased 2 points and has steadily increased in recent months. 30-two per cent of firms reported higher prices of their own goods this month, compared with 29 per cent in February.