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Philadelphia Fed’s manufacturing index improved sharply in September |
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FXstreet.com (Barcelona) – Philadelphia region’s manufacturing sector’s activity has shown a considerable improvement in August, well larger than expected with price pressures easing and new orders sending signs of improvement for the coming months.
September’s manufacturing conditions’ index has increased to 3.8 points from the -12.7 level posted in August, while market analysts had advanced a much weaker increase to -10. The index turns back, thus, to positive figures for the first time since November.
Price pressures have eased notably, with the prices paid index dropping 26 points after a 18 points decline in August, while the prices received index fell 12 points to its lowest level since December.
Future activity expectations have brightened as well, the future general activity index has increased from 27.6 in August to 30.8 in September, and the new orders index has risen to 5.6 in Sept from -11.9 in August.
Posted originally: 9/18/2008 2:19:00 PM
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