Philadelphia Fed business index for December -13.8 versus -10.0 expected

• Philadelphia Fed business index versus -10.0 estimate. Last month -19.4
• employment -1.8 versus 7.1 last month
• prices paid 26.4 versus 35.3 last month
• Prices received 24.3 versus vs 34.6 last month
• new orders -25.8 versus -16.2 last month
• shipments -6.2 versus 7.0 last month
• unfilled orders -14.7 versus -22.9 last month
• delivery times -11.9 versus -8.8 last month
• inventories -2.7 versus -6.5 last month
• average employee work week -8.9 versus 1.4 last month

six-month forward measures

• business activity 3.8 versus -7.1 last month
• capital expenditures 18.0 versus 6.4 last month
• new orders 13.6 versus -4.8 last month
• employment 18.4 versus 11.1 last month
• shipments 22.5 versus 10.2 last month
• prices paid 39.22 versus 18.5 last month
• prices received 32.7 verse 15.7 last month
• average work week -0.7 versus -12.1 last month

Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term readings are lower currently, but six-month forward price expectations moved higher. Growth is slower with new orders falling to -25.8 and shipments also going negative at -6.2.

From the Philadelphia Fed:

• The survey’s broad indicators for current activity were all negative. The firms on balance also reported a decline in employment. The future indicators improved,suggesting that the firms expect overall growth over the next six months.
• The index is activity index of -13.8 was the fourth consecutive negative reading in sixth negative reading in the past seven months
• the employment index dipped into negative territory for the first time since June 2020 with 19% of firms reporting declines in employment and 17% reporting increases. 64% reported steady employment
• the prices paid index fell to the lowest reading since September 2020 and is near its long-run average
• the six-month forward business activity returned to positive territory which is its first since May

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