Philly Fed Slumps Near Weakest Since Dec 2016 As ‘Hope’ Tumbles

by Tyler Durden
ZeroHedge.com
Thu, 01/18/2018

Having reached its highest since 2014 in mid 2017, Philly Fed has slid notably since and printed 22.2 in January – equaling the weakest since Dec 2016.

‘Hope’ took a big hit, dropping from 52.70 to 42.2, as new orders and employees weakened.

Price increases were more widespread this month.

On the cost side, nearly 33 percent of the firms reported increases in the prices paid for inputs; no firms reported paying lower prices. The prices paid index edged 5 points higher. With respect to prices received for firms’ own manufactured goods, 27 percent of the firms reported higher prices, while only 2 percent reported lower prices. The prices received index increased 13 points to its highest reading in 12 months.

>”nearly 33% of the firms reported increases in the prices paid for inputs; no firms reported paying lower prices”

The index for current new orders, however, decreased 18 points.

“Nearly 36 percent of the firms reported an increase in new orders this month, but 26 percent reported declines.”

Both the delivery times and unfilled orders indexes decreased this month: – The unfilled orders index was negative for the first time in 16 months, and the index of delivery times fell to its lowest reading in 10 months.

Again – blame the weather?

The Rest…HERE

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