Philly Fed Data Heats Up
The data from the Philadelphia Federal Reserve, or the Philly Fed, has been released. The business index reached a level of 12.5, up from 10.2 in February and against a Dow Jones target of 10.5. The prices paid component was…
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The new orders component was 3.3 versus 11.7 in February and shipments came in at 3.5 versus 15 in February. Inventories came in at 0.9 versus -12.9 in February.
The summary is as follows: “Business Outlook Survey suggest that regional manufacturing activity continued to grow at a moderate pace in March. The survey’s broad indicators for general activity, new orders, shipments, and employment all remained positive. Firms continued to report price pressures, but responses suggest that pressures have eased from the previous month. The survey’s broad indicators of future activity remained at levels consistent with continued optimism.”
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
