New data Philadelphia Fed Manufacturing Index (Dec)
12/19/2024
actual -16.4, previous -5.5
The Philadelphia Fed Manufacturing Index for December is a key economic indicator that measures the health of the manufacturing sector in the Philadelphia region. A reading below 0 indicates contraction in the sector, while a reading above 0 indicates expansion.In this case, the actual value of the Philadelphia Fed Manufacturing Index for December came in at -16.4, which is significantly lower than the previous value of -5.5 and also much lower than the market estimate of 3. This sharp decline of 10.9 points from the previous month represents a 198.182% decrease, signaling a significant contraction in manufacturing activity in the Philadelphia region.
Given the medium impact of this event, investors and analysts are likely to pay close attention to this data point as it could have implications for the overall economic health of the United States. A lower-than-expected reading like this one could potentially lead to concerns about economic growth and future monetary policy decisions.
This is not investment advice. Remember to verify the information provided here.
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