USA: Unexpected drop in the Philly Fed index in September | Photo credits: Beyond My Ken / CC BY-SA 4.0
Sep 15 (Reuters) – Business conditions in the Philadelphia area unexpectedly deteriorated in September, shows on Thursday? the monthly survey of the local branch of the Federal Reserve.
The “Philly Fed” index fell to -9.9 after 6.2 in ????? ??????august??? while economists polled by Reuters expected a figure of 2.8.
The new orders component is also down, at -17.6? against -5.1 in ??????????August?????, but that of the six-month outlook for activity improved while remaining negative, at -3.9 after – 10.6 after last month. ?
The employment sub-index, meanwhile, stood at 12.0 versus 24.1? in August and that of prices paid fell to 29.8 after 43.6.
(Report Valentine Baldassari, edited by Kate Entringer)