Summing up today... "Nein" - Germans to Greece; "Nein" - Greece to Germany; "Nein" - hiring in Texas; "Nein" - Philly Fed 'hope'; "Nein" - crude production and inventories hit record highs It's madness... The US equity market is trading like a penny stock... Show More Summary
The Federal Reserve Bank of Philadelphia said that manufacturing activity expanded at a slightly slower pace in February than inRead the Rest...
After a weaker than expected manufacturing report for the New York area earlier this week, this morning's release of the Philly Fed Manufacturing report also came in modestly weaker than expected. While economists were expecting the headline reading to rise to 9.0 from last month's level of 6.3, the actual reading came in 5.2. Show More Summary
From the Philly Fed: February Manufacturing Survey Firms responding to the Manufacturing Business Outlook Survey indicated continued modest growth in the region’s manufacturing sector in February. Although the current activity indexShow More Summary
Following January's crash in Philly Fed from 21-year highs to 12-month lows, expectations among the Keynesian-gazers was for a mean-reverting bounce... it didn't. Falling for the 3rd month in a row, Philly Fed printed a worse-than-expected 5.2 (against 8.43 exp), its lowest in a year. Show More Summary
The February report on manufacturing activity from the Philadelphia Federal Reserve fell to 5.2 from 6.3 the prior month. Expectations were for the report to come in at 9. More to come... Join the conversation about this story »
From DataQuick: Bay Area January Home Sales Slowest in Seven Years; Single-Digit Annual Price GainJanuary home sales dropped sharply month over month, which is normal for the season, and dipped year over year to the lowest level for a January in seven years.... Show More Summary
The key economic report this week is January housing starts on Wednesday.For manufacturing, the January Industrial Production and Capacity Utilization report, and the February NY Fed (Empire State), and Philly Fed surveys, will be released this week. Show More Summary
In a somewhat stunning admission of the truth in central planning (that the Swiss just experienced first hand - and perhaps Venezuela has been experiencing for years), The Philly Fed's Charles Plosser explains the following... "It may...Show More Summary
From the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for December 2014. In the past month, the indexes increased in 46 states and remained stable in four, for a one-month diffusion index of 94. Show More Summary
Manufacturers in the Philadelphia Federal Reserve Bank district reported somewhat slower growth in January. The composite index of general businessRead the Rest...
Some 63% of mid-Atlantic manufacturers said they’ve seen positive effects from cheaper oil, versus 16% who saw a negative impact, according to the Federal Reserve Bank of Philadelphia’s January business outlook survey.
With the biggest miss since August 2011, The Philly Fed Factory Index crashed from 21 year highs in November to the lowest since Feb 2014. The headline 6.3 print, missing expectations of 18.7, follows last month's drop for the biggest 2-month drop since Lehman. Show More Summary
From the Philly Fed: January Manufacturing Survey The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, decreased 18 points, from a revised reading of 24.3 in December to 6.3 this month.... Show More Summary
The latest manufacturing survey from the Philadelphia Federal Reserve is set for release at the top of the hour. Expectations are for the reading to come in at 18.7, down from 24.5 last month. The Philly Fed report comes on what hasShow More Summary
On mortgage rates from Matthew Graham at Mortgage News Daily: Mortgage Rates Back to 3.5% for SomeIf you have a truly ideal credit profile and loan scenario, a few of the more aggressive lenders are quoting conforming, 30yr fixed mortgage rates at 3.5% today. Show More Summary
The key economic report this week is December retail sales on Wednesday.For manufacturing, the December Industrial Production and Capacity Utilization report, and the January NY Fed (Empire State), and Philly Fed surveys, will be released this week. Show More Summary
From the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for November 2014. In the past month, the indexes increased in 44 states, decreased in two, and remained stable in four, for a one-month diffusion index of 84. Show More Summary