Philadelphia Fed business index for June -13.7 versus -14.0 estimate

• Prior month -10.4

The highlights of the segment indices shows:

• Fed business index for June -13.7 versus -14.0 estimate. 10th consecutive negative month for the Philly Fed index
• six-month index 12.7 versus -10.3 last month
• Capex index 9.9 versus 2.5 last month
• Employment index -0.40 versus -8.6 last month
• Prices paid 10.5 versus 10.9 last month
• New orders -11.00 versus -8.90 last month

Below are the full details of the data from the Philadelphia Fed:

From the Philadelphia Fed directly:

• Manufacturing activity in the region continued to decline overall according to the June Manufacturing Business Outlook Survey.
• The survey’s indicators for general activity and new orders remained negative.
• The index for shipments rose and turned positive.
• The employment index suggests steady employment overall.
• The price indexes remained below long-run averages.
• Most future indicators improved, but expectations for growth over the next six months remained tempered.

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