US: Philly Fed Nonmanufacturing Index rises to 3.9 in February from -17.5

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  • Philly Fed Nonmanufacturing Index rose into the positive territory in February.
  • US Dollar Index posts modest recovery gains around 90.20.

The Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved to 3.9 in February from -17.5 in January.

Further details of the publication revealed that the Firm-level Business Activity Index climbed to 7.5 from -14.3 and the Full-time Employment Index edged lower to 2.8 from 3.1.

Market reaction

The US Dollar Index recovered modestly after this report and was last seen gaining 0.2% on the day at 90.20.