US: Philadelphia Fed Manufacturing Index rose to 23.2 in January vs. 20.0 expected

The headline Philly Fed manufacturing index rose to 23.2, above the expected 20.0.
FX markets did not react to the stronger than expected survey.

Joel Frank Independent Analyst

According to a report from the Federal Reserve Bank of Philadelphia released on Thursday, the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey rose to 23.2 in January from 20.0 in December. That was bigger than the expected rise to 20.0.

Subindices

The New Orders Index rose to 17.9 from 13.7.
The Prices Paid Index rose to 72.5 from 66.1.
The Employment Index fell to 26.1 from 33.9.
The Six-Month Business Conditions Index rose to 28.7 from 19.0.
The Six-Month Capital Expenditures Index rose to 26.2 from 20.0.

Market reaction

FX markets did not react to the stronger than expected Philly Fed survey.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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