Source: Federal Reserve Bank of Philadelphia.
The Philadelphia Fed Manufacturing Index in the US jumped to 30.7 in September of 2021 from 19.4 in August, beating forecasts of 18.8, pointing out that general activity expanded faster. DXY up +0.48%, EUR USD down -0.52%
- The US gauge for shipments improved, while the new orders and employment indexes cooled down slightly.
- The indicators for prices paid and prices received remained elevated.
- Most firms expect higher production and capacity utilization in the third-quarter. The median current capacity utilization rate reported among the surveyed firms was 70 to 80%, higher than the average rate of 60 to 70% reported a year ago.
- Supply chain and labor issues were major factors contributing to the constrained capacity utilization in the U.S. economy.
- The diffusion index for future general activity decreased for a third straight month, falling 14 points to 20.0. The firms continued to expect overall increases in employment over the next six months.
- The survey’s future indexes indicate US consumers continue to expect growth over the next six months, despite future general activity and new orders indexes continuing to trend downwards.
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