Details of the April 2015 US Philly Fed March report 16 April 2015:

  • Prior +5.0
  • Employment +11.5 vs +3.5 prior -- highest since Nov
  • New orders +0.7 vs +3.9 -- lowest since May 2013
  • Prices paid -7.5 vs -3.0 prior
  • 6m expectations 35.5 vs 32.0 prior

The headline is a bit stronger and employment is good but that new orders number takes a bit of a shine off the report.