January 2013 Philly Fed Business Outlook Shows Contraction Again
From Econintersect Combined RSS Feed
January 17, 2013 - 10:17am
Written by Steven Hansen
The Philly Fed Business Outlook Survey jumped back into negative territory - and has been negative for 8 of the last 9 months. Key element new orders dropped well into contraction, while unfilled orders was less bad.
This is a very noisy index which readers should be reminded is sentiment based. The Philly Fed is becoming the most negative of all the Fed manufacturing surveys.
The market was expecting the index value of 1.0 to 5.2 (actual was -5.8). Positive numbers indicate market expansion, negative numbers indicate contraction.
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