Philly Fed Index Unexpectedly Tumbles Into Negative Territory In August

RTTNews | 132 days ago

(RTTNews) - A report released by the Federal Reserve Bank of Philadelphia on Thursday said regional manufacturing softened overall in the month of August.

The Philly Fed said its diffusion index for current general activity plunged to a negative 7.0 in August from a positive 13.9 in July, with a negative reading indicating contraction. Economists had expected the index to decrease to a positive 7.0.

The steep drop by the headline index came as the new orders index slumped to 14.6 in August from 20.7 in July, while the shipments index plummeted to 8.5 in August from 27.8 in July.

The number of employees index also dove to a negative 5.7 in August from a positive 15.2 in July, suggesting a decline in employment.

The report also said the prices paid index climbed to 24.0 in August from 19.8 in July, while the prices received index tumbled to 13.7 in August from 24.2 in July.

Looking ahead, the Philly Fed said firms continue to expect growth over the next six months, but expectations were less widespread this month.

The diffusion index for future general activity plunged to 15.4 in August after surging to a three-year high of 38.7 in July.

A separate report released by the New York Fed on Thursday said New York manufacturing activity edged slightly lower in the month of August.

The New York Fed said its general business conditions index rose to a negative 4.7 in August from a negative 6.6 in July, but a negative reading still indicates contraction. Economists had expected the index to inch up to a negative 6.0.

Tags: USD

U.S. New Home Sales Show Significant Rebound In November

After reporting a sharp pullback by new home sales in the U.S. in the previous month, the Commerce Department released a report on Monday showing a significant rebound by new home sales in the month of November. The Commerce Department said new home sales surged by 5.9 percent to an annual rate of 664,000 in November after plunging by 14.8 percent to a revised rate of 627,000 in October.

RTTNews | 2 days ago

U.S. Consumer Confidence Unexpectedly Deteriorates In December

Consumer confidence in the U.S. has unexpectedly deteriorated in the month of December, according to a report released by the Conference Board on Monday. The Conference Board said its consumer confidence index tumbled to 104.7 in December from an upwardly revised 112.8 in November.

RTTNews | 2 days ago

U.S. Durable Goods Orders Pull Back More Than Expected In November

New orders for U.S. manufactured durable goods slumped by much more than expected in the month of November, according to a report released by the Commerce Department on Monday. The report said durable goods orders tumbled by 1.1 percent in November after climbing by an upwardly revised 0.8 percent in October.

RTTNews | 2 days ago

U.S. Consumer Sentiment Improves In Line With Preliminary Estimate In December

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. improved in line with its preliminary estimate in the month of December. The report said the consumer sentiment index for December was unrevised from the preliminary estimate of 74.0, in line with economists' expectations. The consumer sentiment index increased from 71.8 in November.

RTTNews | 5 days ago

U.S. Consumer Prices Inch Higher In November, Annual Growth Accelerates Slightly Less Than Expected

Consumer prices in the U.S. crept slightly higher in the month of November, according to a closely watched report released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index inched up by 0.1 percent in November after rising by 0.2 percent in October. Economists had expected prices to increase by another 0.2 percent.

RTTNews | 5 days ago

U.S. Consumer Prices Inch Up Slightly Less Than Expected In November

Consumer prices in the U.S. crept slightly higher in the month of November, according to a closely watched report released by the Commerce Department on Friday.

RTTNews | 5 days ago

U.S. Leading Economic Index Rises For First Time Since February 2022

The Conference Board released a report on Thursday showing its reading on leading U.S. economic indicators increased for the first time in well over two years in the month of November. The report said the leading economic index rose by 0.3 percent in November after falling by 0.4 percent in October. Economists had expected the index to edge down by 0.1 percent.

RTTNews | 6 days ago

U.S. Existing Home Sales Spike To Eight-Month High In November

After reporting a significant rebound by U.S. existing home sales in the previous month, the National Association of Realtors released a report on Thursday showing another substantial increase by existing home sales in the month of November. NAR said existing home sales spiked by 4.8 percent to an annual rate of 4.15 million in November.

RTTNews | 6 days ago

EURUSD	1.041	GBPUSD	1.18847	AUDUSD	0.623
USDJPY	157.17	USDCAD	1.4327	USDCHF	0.8848