May Philly Fed -43.1 vs -40.0 expected

Author: Adam Button | Category: News

May Philadelphia Fed survey results

Philly Fed
  • Prior was -56.6 (worst since 1982)
Details (to come)
  • New orders -25.7 vs -70.9 prior
  • Employment -15.3 vs -46.7 prior
  • Prices paid +3.2 vs -9.3 prior
  • Six-month index +49.7 vs +43.0 prior
  • Prices-received  vs -10.6 prior
  • Inventories  vs -10.2 prior
  • Full report
The drop in new orders is disappointing and is the spot to watch looking ahead. These numbers are all about improvement or worsening and many might have expected orders to bottom in April but they're still getting worse, and so is employment. The six-month index improved but it's all relative because the further you decline, the more you have to climb to get back to zero.

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