- The Philadelphia Fed manufacturing index rises to 27.4 points in March from 16.0 seen in February and against an expected drop.
- Currency markets don’t have much of a reaction to the latest batch of US data.
According to a report from the Federal Reserve Bank of Philadelphia released Thursday, the manufacturing activity index of the Business Outlook Survey has risen to 27.4 points in March from the 16.0 seen in February. This reading was significantly better than expected decline to 15.0.
Sub-indices:
- Business conditions index fell to 22.7 from 28.1.
- CAPEX index rose to 24.8 from 21.50.
- Employment index rose to 38.9 from 32.3.
- New orders rate up to 25.8 from 14.2.
- Prices paid index rose sharply to 81.0 from 69.3.
market reaction
Currency markets didn’t react much to the latest round of US data, which was broadly stronger than expected, but it won’t change much for the Fed.
Source: Fx Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
