- Philly Fed’s Manufacturing Index came in stronger than expected in November.
- US Dollar Index largely ignored the data and stays in range below 98.
The economic activity in the Third Federal Reserve District’s manufacturing sector expanded at a stronger pace than expected in November with the Philadelphia Fed’s Manufacturing Index improving to 10.4 from 5.6 in October and beating the market forecast of 7.
“The indexes for current shipments and new orders both fell: The current new orders index decreased 18 points, while the shipments index decreased 9 points,” the publication read. “Both the unfilled orders and delivery times indexes remained positive this month, suggesting higher unfilled orders and slower delivery times.”
The US Dollar Index failed to capitalize on the upbeat data and was last seen moving sideways near the 97.80 handle.
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