Philly Fed Manufacturing Index falls less than expected in November to 26.3

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  • Philly Fed falls in November, but exceeds expectations.

The main index of the Manufacturing survey from the Philadelphia Federal Reserve regional bank showed a November drop from 32.3 to 26.3, A figure that despite the decline was better than the market consensus which was 22. The report highlights that it is the sixth consecutive positive reading, after having marked historical lows in April and May.

The index of new orders went from 42.6 to 37.9, that of shipments from 44.9 to 24.9, that of job from 12.7 to 27.2 and the prices paid from 28.5 to 38.9.

At the same time, mixed data were known in the weekly report of requests for unemployment benefits. The dollar rose after the reports. Later today, the report on the sale of existing homes and the consumer confidence index (Conference Board) will be released.

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