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ECON: Philly Fed Index Slightly Higher Than Expected
Posted to: Micro News
Thursday, March 21, 2013 10:12 AM
- Headline +2.0 vs -2.0 Consensus (-12.5 last month)
- Highest since September 2012
- Employment Index highest since April 2012
- Market Reaction: Bond markets continue to hold ground in moderately stronger territory.
Manufacturers responding to the March Business Outlook Survey reported slight increases in business activity this month. Indicators for general activity and new orders increased notably, following negative readings over the previous two months. Indicators for shipments and employment remained positive and improved slightly this month. Changes in the survey’s broad indicators of future activity were mixed but continued to reflect general optimism about growth over the next six months.
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