Philly Fed August
  • Lowest since January
  • Prior +13.9

Details:

  • New orders: 14.6 vs 20.7 prior
  • Shipments: 8.5 vs 27.8 prior
  • Unfilled orders: 3.2 vs 9.1 prior
  • Delivery times: 14.1 vs 8.5 prior
  • Inventories: -4.8 vs -9.4 prior
  • Prices paid: 24.0 vs 19.8 prior
  • Prices received: 13.7 vs 24.2 prior
  • Employment: -5.7 vs 15.2 prior
  • Average workweek: -2.3 vs -1.6 prior

Six-month ahead expectations:

  • General business conditions: 15.4 vs 38.7 prior
  • New orders: 10.4 vs 31.3 prior
  • Capital expenditures: 12.0 vs 7.4 prior

A special question asked about the annual percent change firms will receive for goods and services cold and that fell to 2.8% from 3.0% in May.

Overall, this is a softer report and of the handful of reports released today at the same time, this is the only one showing any real weakening.