October Philly Fed -12.8 vs +8.5 expected

Prior was +23.2Details:Employment: 4.6 vs 5.6 last monthPrices paid: 49.2 vs 46.8 last month New orders: +18.2 vs +12.4 last monthIf there’s good news here it’s that new orders were in positive territory for the second month in a row.Shipments: 6.0 vs 26.1 last monthUnfilled orders: -2.2 vs -6.6 last monthInventories: 5.4 vs 15.0 last monthAverage workweek: 12.8 vs 14.9 last monthSix-months from now indicators:6 month index: 36.2 vs 31.5 last monthCapex index 6-month forward: 25.2 vs 12.5 last monthAnother notable thing when you look at the survey is that no firms are expecting any price decreases, despite falling oil prices. In the survey, 49.2% expect price increases while 50.8 see no change. That’s not the kind of thing a central banker wants to see in terms of anchoring prices.The special question highlights that software is ruling the world:
This article was written by Adam Button at investinglive.com.

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