Updated: 19-Oct-17 09:35 ET
|Updated: 19-Oct-17 09:35 ET
- The Philadelphia Fed Index increased from 23.8 to 27.9 in October (Briefing.com consensus 20.0). That is the highest reading since May and comfortably above the 0.0 line that demarcates expansion and contraction in regional manufacturing activity.
- The New Orders Index dropped from 29.5 to 19.6
- The Shipments Index fell from 37.8 to 24.4
- The Unfilled Orders Index decreased from 17.0 to 10.9
- The Prices Paid Index jumped from 34.4 to 38.1
- The Average Employee Workweek increased from 11.9 to 19.4
- The key takeaway from the report is that the monthly increase was led by gains in labor market indicators, with the current employment index increasing 24 points to a record-high reading of 30.6.