Headline Alert
Economic Update: Philly Fed Index
The Philadelphia Fed Index (designed to gauge the economic activity in the region) for December showed an increase of 3.7 points to a reading of 20.4; Above the consensus estimates for a reading of 16.
The November reading was 16.7.
However, there were some negative aspects in the report. For example, the New Orders component fell to 6.5 from 14.8, shipments moved down to 15.3 from 15.7, the Prices Paid (a measure of inflation) rose to 33.8 from 14.9, and finally, the Expectations for next six months fell to 24.4 from 36.8.
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