US: Philly Fed Nonmanufacturing Index improves to -17.5 in January from -26.6 in December

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  • Philly Fed Nonmanufacturing Index rose modestly in January but stayed in the negative territory.
  • US Dollar Index continues to push lower toward 90.20.

The Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved to -17.5 in January from -26.6 in December.

Further details of the publication revealed that the Firm-level Business Activity Index slumped to -14.3 from 5, the Full-time Employment Index rose to 3.1 from -5.8 and the New Orders Index edged higher to 0.2 from -9.5.

Market reaction

The US Dollar Index continues to edge lower after this report and was last seen losing 0.18% on the day at 90.22.

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