🧵 1. Philly Fed Mfg Survey: June marks 10th month of contraction. Activity declined overall, but shipments index turned positive. Source: Bloomberg #finance
🧵 1. Philly Fed Mfg Survey: June marks 10th month of contraction. Activity declined overall, but shipments index turned positive. Source: Bloomberg #finance
🧵 2. General activity index declined to -13.7, reporting 10th consecutive negative reading. One-third of firms reported decreases.
🧵 3. Good news for future activity: future general activity index jumps to 12.7, first positive reading in four months. Hope for recovery.
🧵 4. New orders continued to contract for 14th straight month. However, expectations for future new orders surged. Price indexes remained below averages.
🧵 Read more at: https://www.zerohedge.com/economics/philly-fed-manufacturing-survey-signals-10th-straight-month-contraction