Philly Fed Shows Unexpected Gain, Leading Indicators Plunge

More mixed news this morning on the economic front. The Philadelphia Fed Index unexpectedly grew by 3.8 points in September, well ahead of the market’s mean estimate, which predicted a 10 point loss. The figure was up from last month’s reading of -12.7.

Meanwhile, the Conference Board’s Leading Indicators Index for August fell by 0.5%, exceeding the 0.2% fall expected by the Street. The plunge was, however, a deceleration from July’y figure of -0.7%.

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