US DATA REACT: Jennifer Lee of BMO Capital Markets says the 1.3 pt rise
in the Philly Fed diffusion index to a 3 month high of 18.9, was the
second increase in a row and beat expectations (18.0 MNI median).
Of more interest was the upbeat response “the 150 or so manufactureres
in the Fed district’s survey” gave about expectations 6 months out.
In the “six months from now versus March” portion, the “number of
employees grew to 24.4 from 13.8 in February. Lee says this is “a
positive for hiring intentions.”