(CercleFinance.com) – The Philadelphia Fed (‘Philly Fed’) manufacturing activity index remained in negative territory in December, for the fourth month in a row, but rose by six points compared to the previous month to reach -13.8.
In detail, the new orders index fell nine points to -25.8, its lowest level since April 2020, and that of deliveries fell 13 points to -6.2, its first negative reading since. May 2020.
Businesses surveyed also reported a decline in employment, but future indicators have improved, suggesting they expect overall growth over the next six months.
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