Search Share Prices
Philly Fed index jumps to 25.8 in February
Manufacturing conditions in the Philadelphia region unexpectedly improved in February, with firms optimistic about the prospects for the next six months, according to a survey out on Thursday.
The Philadelphia Fed's diffusion index for current activity rose to 25.8 this month from 22.2 in January, comfortably beating expectations for a drop to 21.1.
Meanwhile, the new orders index increased to 24.5 from 10.1, while the prices paid index pushed up to 45.0 in February from 32.9. However, the current shipments index declined to 15.5 from 30.3 and the inventories index slumped to -0.9 from 9.4.
The diffusion index for future general activity fell just one point to 41.2 this month, with more than 55% of manufacturers expecting increases in activity over the next six months, while 14% expect declines.