US November Philly Fed -19.4 vs -6.2 expected


  • Before was -8.7
  • New orders -16.2 vs -15.6 before
  • Employment +7.1 against +28.5 before
  • Average work week +1.4 vs +10.8 before
  • Capex +6.4 vs. +4.4 before
  • Prices paid +35.3 against +36.3 before
  • Future activity -7.1 vs -14.9 before
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  • Delivery time -8.8 vs -12.6 previously

The trend of this index is clear and surveys like this are forward-looking indicators. Everything points to a much tougher year in the manufacturing sector in 2023, but the question is: will the service sector and the economy follow?

This article was written by Adam Button on forexlive.com.


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