The survey on activity in the manufacturing sector carried out by the regional bank of the Federal Reserve of Philadelphia, known as Philly Fed, showed aa rose much larger than expected in March climbing from 23.1 to 51.8, the highest level since 1973. The market consensus was 23.3.
The indicator prices paid jumped from 54.4 to 75.9, while that of new orders from 23.4 to 50.9. The one of job went from 25.3 to 30.1.
At the same time, there was an unexpected rise in the initial requests for unemployment benefits. The data did not have an impact on the market. The Conference Board’s estimate of consumer confidence will be released later.
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