😎 Summer Sale Exclusive - Up to 50% off AI-powered stock picks by InvestingProCLAIM SALE

Philly Fed manufacturing index falls to 3-month low in September

Published 09/18/2014, 10:03 AM
Philly Fed manufacturing index falls more than expected in September
EUR/USD
-
GBP/USD
-
NDX
-
US500
-
DJI
-

Investing.com - Manufacturing activity in the Philadelphia-region expanded at the slowest rate in three months in September, dampening optimism over the U.S. economic outlook, official data showed on Thursday.

In a report, the Federal Reserve Bank of Philadelphia said that its manufacturing index deteriorated to a reading of 22.5 this month from August’s reading of 28.0. Analysts had expected the index to decline to 23.0 in September.

On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.

The survey’s indicators for future manufacturing conditions reflect general optimism about growth in activity and employment over the next six months.

The current new orders and shipments indexes edged higher this month, increasing 1 point and 5 points, respectively.

The employment index increased 12 points to its highest reading since May 2011.

Most of the survey’s indicators of future growth declined from their 22-year high readings reached last month. The future general activity index decreased 10 points.

EUR/USD was trading at 1.2894 from around 1.2888 ahead of the release of the data, while GBP/USD was at 1.6394 from 1.6380 earlier.

Meanwhile, U.S. stock markets were higher after the open. The Dow 30 picked up 0.4%, the S&P 500 tacked on 0.4%, while the NASDAQ 100 rose 0.5%.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.