December Philly Fed manufacturing index -16.4 vs +3.0 expected

• Prior was -5.5
• New orders: -4.3 vs +8.9 prior
• Shipments: -1.9 vs +4.5 prior
• Unfilled orders: +18.9 vs +6.8 prior
• Delivery times: +11.6 vs -2.1 prior
• Inventories: -2.3 vs +5.4 prior
• Prices paid: +31.2 vs +26.6 prior
• Prices received: +7.3 vs +14.3 prior
• Employment: +6.6 vs +8.6 prior
• Average workweek: -8.2 vs +17.4 prior
• Six month index +30.7 vs +56.6 prior

Responses to the December Manufacturing Business
Outlook Survey suggest a decline overall in regional
manufacturing activity this month. The indicator for current
activity remained negative, while the new orders and
shipments indexes declined and turned negative. On
balance, the firms indicated an increase in employment and
continued to report increases in prices. The survey’s broad
indicators for future activity continue to suggest widespread
expectations for growth over the next six months.

This article was written by Giuseppe Dellamotta at www.forexlive.com.