He Philadelphia Fed manufacturing index has fallen to 3.2 points in March from 5.2 in February, improving the -2.3 expected by market consensus.
This is only the fifth positive index reading since May 2022. Nearly 24% of businesses reported increases in overall activity this month, while 21% reported decreases; 52% reported no change. The new orders index turned positive for the first time since October, going from -5.2 in February to 5.4 in March. The current shipments index rose 1 point to 11.4 in March, its highest reading since August 2022.
dollar reaction
The Dollar Index (DXY) has reacted with a slight rebound to the weekly unemployment claims data and the Philadelphia Fed manufacturing index, which has also improved expectations. The DXY has risen to 103.61, where it gains 0.20% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
