Philly Fed prone to unusual swings

Before we all get too excited about the drop in the Philly Fed, lets remember that this isn't the first time that it's diverged from the ISM manufacturing index.

  • Employment -1.3 vs +17.9 prior
  • New orders -1.2 vs +2.7 prior
  • Six-months future business conditions +15.0 vs +33.8 prior

The details of the report are worrisome but it's unlikely that manufacturing dropped off a cliff in May.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Markets
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!