Philly Fed Index Below Consensus, Above December Reading
January 19, 2012Sign Up to receive Email Alerts for all the market-moving FLASH Headline Reports
Economic Update: Philadelphia Fed Index
The Philadelphia Fed Business Outlook Index was reported at +7.3 in January, which was below the consensus for a reading of +9.7.
For comparison purposes:
- December: +6.8
- November: +3.6
- October: +8.7
- September: -17.5
- August: -30.7
- July: +3.2
- June: -7.7
- May: 3.9
- April: 18.5
- March: 43.4
- February: 35.9
The Prices Paid (inflation) index: +31.8 vs. December +30.4.
The New Orders index: +6.9 vs +10.7.
The Employment index: +11.6 vs. +11.5.
According to Investopedia, the Philly Fed Index is a regional federal-reserve-bank index measuring changes in business growth. The index is constructed from a survey of participants who voluntarily answer questions regarding the direction of change in their overall business activities. The survey is a measure of regional manufacturing growth. When the index is above 0 it indicates factory-sector growth, and when below 0 indicates contraction.
Stocks have sold off in response to the report.
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