empty
 
 

21.09.201709:13:00UTC+00Philly Fed Index Unexpectedly Indicates Faster Growth In September

A report released by the Federal Reserve Bank of Philadelphia on Thursday showed an unexpected improvement in regional manufacturing conditions in the month of September.

The Philly Fed said its index for current manufacturing activity rose to 23.8 in September from 18.9 in August, with a positive reading indicating growth. Economists had expected the index to drop to 17.2.

The unexpected increase by the Philly Fed Index partly reflected notable accelerations in the pace of growth in new orders and shipments.

The new orders index jumped to 29.5 in September from 20.4 in August, while the shipments index surged up to 37.8 from 29.4.

Meanwhile, the report said the number of employees index fell to 6.6 in September from 10.1 in August, indicating a slowdown in the pace of job growth.

The Philly Fed also said the prices paid index shot up to 34.4 in September from 21.1 in August, while the prices received index climbed to 22.8 from 13.5.

Looking ahead, the survey's future indicators suggest that manufacturers have generally grown more optimistic over the past three months.

The diffusion index for future general activity advanced to 55.2 in September from 42.3 in August, reaching its highest reading since March.

Last Friday, a separate report from the New York Fed showed activity in the New York manufacturing sector saw a modest slowdown in the pace of growth in September.

The New York Fed said its general business conditions index edged down to 24.4 in September from 25.2 in August. The index had been expected to drop to 19.0.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback