Philly Fed index improves by less than expected in October

By Alexander Bueso

Date: Thursday 19 Oct 2023

(Sharecast News) - The slowdown in factory sector activity in the U.S. mid-Atlantic region eased a tad in October.
The Federal Reserve Bank of Philadelphia's manufacturing sector index rose from a reading of -13.5 for September to -9.0 in October.

Economists had penciled in a print of -6.4.

A sub-index for new orders improved from -10.2 to 4.4, while that for delivery times continued to improve as reflected in the corresponding sub-index -14.9 to -21.4.

The sub-index for prices paid meanwhile dipped from 25.7 to 23.1.

That linked to the number of employees also rose, from -5.7 to 4.0.

-- More to follow --

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