Technical Analysis

Philadelphia Fed non-manufacturing index -6.5 vs -12.8 prior


  • Prior -12.8
  • Firm-level activity +12.7 vs +8.0 prior
  • New orders +10.8 vs -2.1 prior
  • Full time employment +16.5 vs +5.4 prior
  • Wage and benefit costs 46.1 vs +45.2 prior

This is a low-level indicator and not a market mover but that’s a nice bounce in January.

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