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Philly Fed Hits A 21 Year High

TedTed
in Off-Topic
FYI: To say that today's release of the Philly Fed Manufacturing report for the month of November was stronger than expected would be a gross understatement. The report absolutely crushed expectations. While economists were forecasting a level of 18.50, the actual level of the current conditions index spiked to 40.8. To put this level in perspective, it was the highest monthly reading since December 1993, and was just the eighth highest monthly reading since 1980. In terms of this month's 20.1 point increase, that was the largest monthly increase since June 2009. And finally, relative to expectations, it was the biggest beat since at least 1998. Although this indicator tends to be volatile, it was quite simply one of the strongest economic data points we have seen in quite some time.
Regards,
Ted
http://www.bespokeinvest.com/thinkbig/2014/11/20/philly-fed-hits-a-21-year-high.html?printerFriendly=true

Comments

  • MaxBialystockMaxBialystock
    Lovely!
  • Old_JoeOld_Joe
    I've been thinking that the later stages of the economic recovery will dovetail with the next two yearly sessions of the "new" congress, who will have done absolutely nothing to help the situation, but will take full credit for whatever good happens anyway. Can't win!

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