FYI: Unlike the Empire Manufacturing report for April which came in weaker than expected and actually contracted, April’s release of the Philly Fed manufacturing report came in slightly better than expected hitting a level of 7.5 versus consensus expectations of 6.0. April’s rebound is welcome, but after four months where the headline reading has fallen from a two-decade high of 40.2 down to 5.0, there is much room for improvement.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/philly-fed-beats-expectations/
