The latest report from the Philadelphia Federal Reserve showed a significant improvement in its business index, reaching a two-year high of +3.2. This was a marked improvement from the previous period when the index was at +1.2. Employment numbers also saw a slight decrease from -9.6 to -10.7, but this was overshadowed by the substantial increase in new orders from +5.4 to +12.2, indicating stronger demand.
Prices paid surged to +23.0 from +3.7 in the previous report, while prices received also saw a slight increase from +4.6 to +5.5. Shipments and unfilled orders both showed improvement, with shipments increasing from +11.4 to +19.1 and unfilled orders increasing from +1.0 to +0.8. Delivery times showed a slight improvement, moving from -16.7 to -9
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