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
The Federal Reserve Bank of Philadelphia said that manufacturing activity expanded very strongly in November, with its composite index measuringRead the Rest...
Bwuahahaha... Against expectations of a small drop to 18.5, the Philly Fed business outlook 'survey' printed 40.8 - its highest since 1993. This is a 10-sigma event, more than doubling last month's 20.7 print. New Orders surged (17.3 to 35.7), Shipments doubled, Prices Paid collapsed (27.6 to 17.3) and Prices received plunged. Show More Summary
Wow. The Philadelphia Federal Reserve's latest manufacturing report just annihilated expectations. The reading came in at 40.8. This is the highest reading since Decmber 1993. Expectations were for the report to come in at 18.5, down slightly from last month's 20.7 reading. We'll be back with the live numbers when they hit. Join the conversation about this story »
Goldman Sachs has a model that divides the business cycle into four stages: early-cycle, mid-cycle, late-cycle and recession. According to Goldman economist Kris Dawsey, the economy appears to be transitioning from early to mid-cycle...Show More Summary
While the small business scourge that is Obamacare may not last very long now that the GOP has full control of Congress, and a scourge it is according even to the Philly Fed itself as per "Obamacare Is A Disaster For Businesses, Philly Fed Finds"...... Show More Summary
From the Philly Fed: The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for September 2014. In the past month, the indexes increased in 43 states, decreased in four, and remained stable in three, for a one-month diffusion index of 78. Show More Summary
Onehawk down, and just as rates are supposedly set to begin rising. Smart. Full press release: Philadelphia Fed President Plosser to Retire on March 1, 2015 Charles I. Plosser, president and chief executive officer of the Federal Reserve Bank of Philadelphia, today announced that he will retire, effective March 1, 2015. Show More Summary
Earlier from the Philly Fed: September Manufacturing Survey The diffusion index for current activity fell from a reading of 28.0, its highest reading since March 2011, to 22.5 this month. The current new orders [to 15.5] and shipments indexes edged higher this month, however, increasing 1 point and 5 points, respectively.... Show More Summary
The Federal Reserve Bank of Philadelphia said that manufacturing activity eased slightly, but growth remained strong in its district. TheRead the Rest...
After hitting a four-year high in August, the September reading for the Philly Fed Manufacturing survey declined from 28.00 down to 22.5, which was slightly below the consensus forecast of 23.0. In spite of the decline, manufacturing...Show More Summary
The Philadelphia Federal Reserve is set to release its latest business outlook report at 10:00 am ET. Expectations are for the report's general activity index to fall to 23.0 from 28.0 August. August's report soundly beat expectations,...Show More Summary