Feb 17 (Reuters) – Business conditions in the Philadelphia area deteriorated in February, the Federal Reserve’s local branch monthly survey showed on Thursday.
The “Philly Fed” index fell to 16.0 from 23.2 in January. Economists polled by Reuters on average had expected a figure of 20.0.
The new orders component fell to 14.2 from 17.9 in January.
The sub-index of business prospects over a six-month horizon stood at 28.1 against 28.7 the previous month, that of employment increased to 32.3 against 26.1 in January.
The paid prices sub-index fell to 69.3? after 72.5 a month earlier. (Gdansk office, edited by Blandine Hénault)