- Prior was -8.8
Details:
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Employment: +9.7 vs +12.9 last month
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Prices paid: +46.9 vs +43.6 last month
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New orders: +14.4 vs +5.0 last month
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Shipments: vs +3.2 last month
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Unfilled orders: vs -6.2 last month
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Inventories: vs +6.5 last month
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Average workweek: vs +14.7 last month
Six-months from now indicators:
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6 month index: vs +41.6 last month
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Capex index 6-month forward: vs +30.3 last month
The Philly Fed is a solid look at manufacturing in the region but the entire US manufacturing sector is increasingly irrelevant in terms of national employment, GDP and markets
US January Philly Fed +12.6 vs -1.0 expected