This was released this week by the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for October 2013. In the past month, the indexes increased in 44 states, decreased in four states, and remained stable in two, for a one-month diffusion index of 80. Show More Summary
Supported by economic weakness overnight in Asia and a weak Philly Fed print (bad news is good news) along with hope from more QE out of the BoJ, JPY weakness floated all boats today as homebuilders and financials surged lifting stocks tick for tick with carry. Show More Summary
Stocks climbed today, Philly Fed fell, and the U.S. exited its stake in GM. But first, the scoreboard: S&P 500: 1,796.27 14.90(0.84%) Dow: 16,014.68 113.86(0.72%) Nasdaq: 3,969.95 48.68 (1.24%) And now the top stories: The U.S. Treasury...Show More Summary
Hickey and Walters (Bespoke) submit: Today's release of the Philly Fed Manufacturing report for November came in at a level of 6.5, which was down from last month's reading of 19.8 and weaker than consensus expectations for a level of 11.9. The table Complete Story »
The Federal Reserve Bank of Philadelphia reported an easing in manufacturing activity growth in November. The Business Outlook Survey’s compositeRead the Rest...
Today's release fo the Philly Fed Manufacturing report for November came in at a level of 6.5, which was down from last month's reading of 19.8 and weaker than consensus expectations for a level of 11.9. The table to the right breaks down each of the index's subcomponents. Show More Summary
With the market not sure what bad news would send it soaring higher today, here comes the Philly Fed to save the day by tumbling from October's 19.8 to a paltry 6.5, slamming through expectations of 15.0 - the biggest miss since February...Show More Summary
From the Philly Fed: November Manufacturing Survey Manufacturing growth in the region continued in November but did not match the pace of growth in the preceding month, according to firms responding to this month’s Business Outlook Survey. Show More Summary
The Philadelphia Federal Reserve's Business Outlook Survey for November plummeted to a reading of 6.5. Analysts expected the reading to decline to just 15.0, from 19.8. Full report » SEE ALSO: The Truth About The U.S. Recovery Join the conversation about this story »
No big surprises in the FOMC minutes. From the WSJ: Bond Buying Likely to Be Pared 'in Coming Months,' but Conveying Thinking on Low Rates Proves VexingFederal Reserve officials still expect to start pulling back on the central bank's...Show More Summary
Hickey and Walters (Bespoke) submit: Earlier this week, we got one of the first reads on economic activity in the post shutdown period with the release of the weaker than expected Empire Manufacturing report. While that report showed...Show More Summary
Earlier this week, we got one of the first reads on economic activity in the post shutdown period with the release of the weaker than expected Empire Manufacturing report. While that report showed a weaker than expected economic environment,...Show More Summary
Manufacturing growth in the region slows.
The Philly Fed's Business Outlook Survey is a monthly report for the Third Federal Reserve District, covers eastern Pennsylvania, southern New Jersey, and Delaware. The latest gauge of General Activity came in at 19.8, down from the previous month's 22.3.
It is oddly appropriate for the BS New Normal, in which as the DOL showed earlier virtually every data point is made up, that moments after the Bloomberg Consumer Confidence Index showed a plunge in consumer expectations to the lowest...Show More Summary
The Federal Reserve Bank of Philadelphia reported continued strength in the manufacturing sector in its District in October. The BusinessRead the Rest...
From the Philly Fed: October Manufacturing Survey Manufacturing growth in the region continued in October, according to firms responding to this month’s Business Outlook Survey. The survey’s broadest indicators for general activity, new orders, shipments, and employment were positive, signifying growth. Show More Summary
Heads up! We are minutes away from the release of the Philadelphia Fed's monthly Business Outlook Survey report, due out at 10 AM ET. Economists predict the headline index fell to 15.0 in October from September's 22.3 reading, indicating slowing but robust business conditions in the region. We will have the full release LIVE at 10 AM ET. Show More Summary
The ongoing government shutdown will continue to affect the quality and/or the release schedule of official macro data. In the meantime, survey data is probably the best set of indicators to follow. The Empire (NY) and Philly Fed surveys are likely the highlight for this week. Show More Summary