Philadelphia Fed Business index for July +15.9 vs -1.0 expected ...Middle East

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Philadelphia Fed Business index for July +15.9 vs -1.0 expected
Prior month was -4.0

Details:

New Orders 18.4 vs 2.3 last month Shipments 23.7 vs 8.3 last monthUnfilled orders 5.7 vs 9.3 last monthDelivery time -4.7 vs 13.6 last monthInventories -1.3 vs 3.6 last monthPrices paid 58.8 vs 41.4 last monthPrices received 34.8 vs 29.5 last monthNumber of employees 10.3 vs -9.8 last monthAverage workweek 0.4 vs -1.6 last month

This is a volatile and rarely market moving indicator. All three indexes recorded their highest readings since February. The employment index turned positive, suggesting overall increases in employment. Both price indexes rose after declining last month and continue to suggest overall price increases. The future activity indicators suggest that the firms continue to expect growth over the next six months.

    This article was written by Giuseppe Dellamotta at www.forexlive.com.

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