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- Business Conditions -10.7 vs +2.0 consensus, +5.7 Oct
- New Orders -4.6 vs -0.6 Oct
- Employment -6.8 vs -10.7 Oct
- Philly Fed says "influence of Storm Sandy evident in firm's responses

"Firms responding to the November Business Outlook Survey reported declines in business activity this month following the disruptive effects of Hurricane Sandy on the region. The survey’s indicators for general activity, which had shown improvement in October, fell back into negative territory this month. Firms reported slight declines in shipments, employment, and hours worked. Indicators for the firms’ expectations over the next six months were near their levels in the previous month, but expectations for future employment and capital spending have weakened in the last two months."

More from MND:

• MND NewsWire: Details from Wells Fargo Conference Call on Housing Market
• MND NewsWire: Freddie Mac Green Lights Fed Tapering
• MBS Commentary: MBS RECAP: Sideways Mission Accomplished. FOMC Tomorrow
• Mortgage Rate Watch: Mortgage Rates Modestly Higher Ahead of Important Fed Announcement
• MND NewsWire: Commercial Debt Declines Partially Offset by Multi-Family

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