(Finance) – Themanufacturing sector activities in the Philadelphia area (United States). TO January 2024, the Philadelphia Fed district manufacturing activity index (Philly Fed) fell to -10.6 points from -12.8 in December. The figure is worse than analysts’ expectations, which indicated a level of -7 points.
It must be said that a index above zero indicates that within the Philadelphia district there are more optimistic than pessimistic companies in the manufacturing sector, vice versa an index below zero indicates the prevalence of the number of pessimistic companies.
Among the components of the index, that of new orders stood at -17.9 points from -22.1 points, the one on business conditions worsened to -4 points from +12.6 and that on investment spending (capex) is equal to 7.5 from -7.5, while the index onoccupation stands at -1.8 from -2.5 points and that on prices to 11.3 from 24.3 points.