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Last Update: 16-Feb-12 10:51 ET
Philly Fed Business Outlook Shows Improvement in Manufacturing Activities
The Philadelphia Fed's Business Outlook Survey improved and showed an acceleration in manufacturing activity. The index increased from 7.3 in January to 10.2 in February, in-line with the Briefing.com consensus estimate.
The Shipments Index jumped from 5.7 in January to 15.0 in February on strong growth in both new (11.7 from 6.9) and unfilled orders (2.2 from -4.1). The gains in orders, especially the unfilled, should provide production growth stability next month.
The Number of Employees Index slid from 11.6 in January to 1.1 in February, a signal of slower hiring growth. The number of hours worked, however, spiked to 10.1 from 5.0 and should allay concerns of a weaker labor sector and/or lower aggregate wages.
The Shipments Index jumped from 5.7 in January to 15.0 in February on strong growth in both new (11.7 from 6.9) and unfilled orders (2.2 from -4.1). The gains in orders, especially the unfilled, should provide production growth stability next month.
The Number of Employees Index slid from 11.6 in January to 1.1 in February, a signal of slower hiring growth. The number of hours worked, however, spiked to 10.1 from 5.0 and should allay concerns of a weaker labor sector and/or lower aggregate wages.
