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
The Federal Reserve Bank of Philadelphia said that manufacturing activity remained strong in December. While the composite index dropped fromRead the Rest...
What a farce. After printing 40.8 in November - a 21 year high - Philly Fed collapsed back to 24.5 (missing expectations of 26.0). New Orders, employment (lowest since April), and the workweek plunged as The Philly Fed notes the survey suggests a slower pace of expansion of the region’s manufacturing sector. Show More Summary
From the Philly Fed: December Manufacturing Survey The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, decreased 16 points, from a reading of 40.8 in November to 24.5 this month... The new orders [to 19.7] and current shipments indexes also weakened significantly.... Show More Summary
The Philly Fed's manufacturing index cooled off in December, coming in at 24.5. Expectations were for the come in at 26.0 down slightly from last month's blowout 40.8 reading. November's reading was the highest reading since December...Show More Summary
The key economic report this week is November housing starts on Tuesday.For manufacturing, the November Industrial Production and Capacity Utilization report, and the December NY Fed (Empire State), Philly Fed, and Kansas City Fed surveys, will be released this week. Show More Summary
Via Goldman Sachs' Jan Hatzius, 1. The stellar 321,000 payroll gain, the strong ISMs, and the surge in the Philly Fed have pushed our current activity indicator (CAI) up to 4.4% for November so far, from 4.3% in October. In contrast, real GDP is on track for much slower growth this quarter, only 2.4% according to our latest estimate. Show More Summary
Succinct Summations week ending November 21st: Positives: 1. The Philly fed came in at 40.8, vs expectations of 20.7. This was the best reading since 1993! 2. The S&P 500 and Dow Jones both made new all-time highs, the third consecutive week both did so. 3. Headline CPI was flat m/o/m and is up 1.7%...Read More
To say that today's release of the Philly Fed Manufacturing report for the month of November was stronger than expected would be a gross understatement. The report absolutely crushed expectations. While economists were forecasting a level of 18.50, the actual level of the current conditions index spiked to 40.8. Show More Summary
Thursday morning saw the Philadelphia Federal Reserve's latest manufacturing business outlook survey smash expectations. The report's headline index came in at 40.8, blowing away last month's 20.7 reading and far exceeding expectations for a reading of 18.5. Show More Summary