US: Philadelphia Fed Manufacturing Index rises to -13.8 in December vs. -10 expected

Philly Fed Manufacturing Index improved modestly in December.
US Dollar Index clings to daily gains above 104.00.

Eren Sengezer FXStreet

The Federal Reserve Bank of Philadelphia's Manufacturing Business Outlook Survey's diffusion index for current general activity rose to -13.8 in December from -19.4 in November. This print came in worse than the market expectation of -10.

"The survey’s indicators for general activity, new orders, and shipments were all negative, and the firms reported a decline in employment, on balance," the publication read. "The survey’s broad indicators for future activity improved and indicate firms expect growth overall over the next six months."

Market reaction

The US Dollar continues to outperform its rivals after this data with the US Dollar Index rising 0.5% on the day at 104.12.

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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