- The Philadelphia Fed Non-Manufacturing Index jumps into positive territory in February.
The Regional Commercial Activity Index of the The Federal Reserve Bank of Philadelphia’s Non-Manufactured Business Outlook Survey (Philly Fed Non-Manufacturing) improved to 3.9 in February from -17.5 reading in January.
Further details from the release revealed that the business activity index rose to 7.5 from -14.3 and the full-time employment index fell to 2.8 from 3.1.
The data had no impact on the market. Traders are awaiting the words of Federal Reserve Chairman Jerome Powell, who will speak in Congress.
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