Philly Fed: Index for current manufacturing activity in the region increased 5 points to 23.8

Eren Sengezer FXStreet

"The index for current manufacturing activity in the region increased 5 points to a reading of 23.8 and has remained positive for 14 consecutive months," the Federal Reserve Bank of Philadelphia announced on Thursday.

Key takeaways:

Nearly 39 percent of the firms indicated increases in activity this month; 15 percent reported a decrease in activity.
The new orders and shipments indexes also registered an improvement, increasing 9 points and 8 points, respectively.
Firms reported, on balance, an increase in manufacturing employment this month.
The current employment index fell 4 points but has remained positive for 10 consecutive months.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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