Philadelphia Fed manufacturing index surges to 7-month high despite rising inflation

[mahatmakanejeeves]

Source: MarketWatch

Economic Report

Philadelphia Fed manufacturing index surges to 7-month high despite rising inflation

Last Updated: Nov. 18, 2021 at 9:07 a.m. ET
First Published: Nov. 18, 2021 at 8:58 a.m. ET
By Chris Matthews

Firms expect to increase prices 5.3% over next year

The numbers: The Philadelphia Fed said Thursday its gauge of regional manufacturing activity rose to 39 in November from 28.3 in the previous month. Any reading above zero indicates improving conditions.

Economists expected a 22.0 reading, according to a Wall Street Journal poll.

Key details: The headline index is based on a single stand-alone question about business conditions unlike the national ISM manufacturing index which is a composite based on components.

The gauge of new orders rose 16.6 points to 47.4, while the shipments index gained 2.1 points to 32.1 in November.

Unfilled orders rose 14.7 points in November to 27.4 from the previous month.

The reading of the six-month business outlook rose to 28.5 from October’s reading of 24.2.

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Read more: https://www.marketwatch.com/story/philadelphia-fed-manufacturing-index-surges-to-7-month-high-despite-rising-inflation-11637243898

[BumRushDaShow]

1. That's a big "expected" vs "actual" difference in a magnificent way

(have been in the lobby at the retail windows to cash in some old EE bonds a bunch of years ago )

It's across the street from a Federal Detention Center.

[mahatmakanejeeves]

2. Good morning. I had some EE bonds that I mailed off to Minneapolis to have converted

into electronic form. They haven't stopped paying interest yet, but that's coming. There's going to be a huge taxable event when that happens.

I had to go into the FR building in Portland, Oregon, for some reason a long time ago. Buying, probably, but it's sort of hazy by now.

No financial announcement this morning, at least not in this country.

I haven't checked next week's schedule. That's usually a weekend activity for me.

See ya.

[BumRushDaShow]

3. I still have one $100 bond left from 1989