FYI: While Wednesday’s Empire Manufacturing report for the month of July came in better than expected, today’s same release for the Philadelphia region missed the mark. While economists were expecting the headline reading to show a small decline from 15.2 down to 12.0, the actual level came in much weaker at 5.7. As shown in the chart below, this week’s decline more than erased all of last month’s pickup.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/philly-fed-misses-expectations/
