Philadelphia Fed Business Index
- A two-year high
- Before it was +3.2
- Employment: -10.7 compared to -9.6 previously
- New orders: +12.2 vs +5.4 previously
- Prices paid: +23.0 vs +3.7 previously
- Prices received: +5.5 vs +4.6 previously
- Shipments: +19.1 vs +11.4 previously
- Unfilled orders: +0.8 versus +1.0 previously
- Delivery times: -9.4 vs -16.7 previously
- Stocks: -8.9 vs +4.4 previously
- Average employee work week: -18.7 compared to -0.2 previously
Prospective indices:
- Six-month index: +34.3 versus 38.6 previously
- Employment: +12.8 compared to +5.8 previously
- New orders: +42.8 versus +49.9 previously
- Shipments: +29.3 versus +43.9 previously
- Prices paid: +54.5 vs +38.0 previously
- Prices received: +34.4 vs +37.1 previously
The rise in prices paid is worrying and part of wider concerns about inflation, although it could also reflect rising oil prices rather than general cost pressures.
As for the prices paid, one could argue that last month was unique.
This article was written by Adam Button at www.forexlive.com.
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