Philly Fed Manufacturing Index 20/1/2022

This article includes an interpretation of the Philadelphia Manufacturing Index, its impact on financial markets, expectations for today's data, and a review of previous data.

This indicator determines the general working conditions of industrialists in Philadelphia. It is extracted from a survey in which a number of people are questioned about the level of business activity in general. Although this survey is limited to Philadelphia industrialists only, traders are watching it closely because the Philadelphia Federal Reserve releases this indicator weeks before other key economic reports on the manufacturing sector.

The US Philadelphia Fed Manufacturing Index fell to 15.4 in December of 2021 from a seven-month high of 39 in November and well below market expectations of 30. The reading indicated the weakest growth in factory activity in Philadelphia since December last year. Survey indicators for general activity, shipments and new orders fell to their lowest readings in 2021 but remained positive this month. However, the employment index improved somewhat. Both price indicators declined but remained high. Overall future activity of the survey and indicators of new orders were moderate, but the companies surveyed remained generally optimistic about growth over the next six months.

Estimate for today's release 18.9
In the event that the current issuance was higher than expectations, it will positively affect the currency and vice versa
The index will be released at 3:30 pm Beirut time

Tags : USD