Philadelphia Fed Manufacturing Index for September comes in at 37.8, above the market forecast of 30.5
Macro
The Philadelphia Federal Reserve reported on the 17th that its manufacturing business outlook index for the Third Federal Reserve District came in at 37.8 in September. While that was down from 47.4 the previous month, it beat the market forecast of 30.5. Among the components, new orders fell from 30.1 to 29.2, shipments were flat at 27.7, unfilled orders rose from 14.4 to 20.4, and delivery times rose from 3.7 to 26.5, while inventories fell from minus 3.7 to minus 12.5. Prices paid rose from 40.9 to 48.6 and prices received rose from 17.7 to 31.3, while employment fell from 27.9 to 11.8 and the six-month outlook fell from 73.6 to 52.9.
