Philadelphia Fed Business index for June -4.0 vs -1.0 expected

• Prior month was -4.0

Details:

• New Orders 2.3 vs 7.5 last month
• Shipments 8.3 vs -13.0 last month
• Unfilled orders 9.3 vs 4.9 last month
• Delivery time 13.6 vs -9.2 last month
• Inventories 3.6 vs 9.7 last month
• Prices paid 41.4 vs 59.8 last month
• Prices received 29.5 vs 43.6 last month
• Number of employees -9.8 vs 16.5 last month
• Average workweek xx vs 2.0 last month

A bit of a setback this month, especially on the future activity side. The diffusion index for future general activity fell 29 points to 18.3 in June after rising 40 points last month.

This is a volatile indicator but on face value it’s a disappointment after the strong rebound last month.

This article was written by Giuseppe Dellamotta at www.forexlive.com.