Philadelphia Fed November manufacturing index -5.9 vs -9.0 expected

<ul><li><a href="https://www.forexlive.com/news/philadelphia-fed-october-manufacturing-index-90-vs-66-expected-20231019/" target="_blank" rel="follow">Prior </a>-9.0</li><li>Employment +0.8 vs +4.0 prior</li><li>Prices paid +18.4 vs +23.1 prior</li><li>Prices received +14.8 vs +14.6 prior</li><li>New orders +1.3 vs +4.4 prior</li><li>Shipments -17.9 vs +10.8 prior</li><li>Delivery times -8.7 vs -21.4 prior</li><li>Inventories -3.1 vs -7.0 prior</li></ul><p>Expectations component i.e. six months from now:</p><ul><li>Business activity index -2.1 vs +9.2 prior</li><li>Employment +4.3 vs +7.8 prior</li><li>Prices paid +37.9 vs +48.5 prior</li><li>Prices received +34.5 vs +46.9 prior</li><li>Capex -1.3 vs -4.8 prior</li><li>New orders +11.3 vs +18.9 prior</li><li>Shipments +16.3 vs +5.4 prior</li><li>Delivery times -22.4 vs -17.1 prior</li><li>Inventories +0.1 vs +4.9 prior</li></ul><p>The pricing numbers are generally good here but while the main index improved, the future index tumbled. Some of that could be related to the auto strike though, so tread carefully. On inflation, there was a special question in the report and — aside from the wage numbers — it's along the lines of what the Fed wants to see.</p>

This article was written by Adam Button at www.forexlive.com.