In February, the Philadelphia Fed's manufacturing index experienced a notable improvement, rising to +5.2 from a previous -10.6, surpassing the estimated -8.0. This positive shift was highlighted by improvements in new orders to -5.2, shipments to +10.7, and the average workweek to +1.4, although employment fell to -10.3. Similarly, the New York Fed's Empire State Manufacturing Index saw a significant rebound to -2.4, up 41.3 points from January, against an estimated -13.7. This surge marks the most substantial increase since 2020, with notable rebounds in orders, shipments, and employment. Additionally, the prices paid in the Philly Fed survey rose to 16.60 from 11.30, indicating inflationary pressures.
February @philadelphiafed manufacturing index rose to +5.2 vs. -8.1 est & -10.6 prior … new orders up to -5.2, shipments improved to +10.7, avg workweek moved up to +1.4 … employment fell to -10.3 https://t.co/Zdn9Gz2X9j
February Empire Manufacturing Index jumped to -2.4 vs. -12.5 est. & -43.7 prior; new orders rose to -6.3, shipments up +2.8, employment eased to -0.2, and prices paid up +33.0 (highest since May) https://t.co/beLFzlxujY
FWIW, Philly Fed survey says Feb manufacturing outlook diffusion index turned positive (from negative in Jan). https://t.co/FcDCJ9mJAJ
Empire State Mfg index -2.4 in Feb, up 41.3 points from Jan https://t.co/cf2AKcFCxf https://t.co/LndJLAWVjC
🇺🇸 United States Philly Fed Prices Paid (Feb) $USD Actual: 16.60 Previous: 11.30
🇺🇸 United States Philly Fed New Orders (Feb) $USD Actual: -5.2 Previous: -17.9
A gauge of New York state factory activity surged in February by the most since 2020 as measures of orders, shipments and employment rebounded sharply from a month earlier https://t.co/N8kvPRYxYB
New York Fed’s Empire State factory gauge rebounds sharply in February https://t.co/Yd7IshRGoO
US Empire Manufacturing Feb: -2.4 (est -12.5; prev -43.7)
⚠️BREAKING: *U.S. FEBRUARY PHILADELPHIA FED FACTORY INDEX RISES TO +5.2; EST. -8.0; PREV. -10.6 🇺🇸 🇺🇸 https://t.co/xmDRClCCr5
⚠️BREAKING: *NY FED FEBRUARY EMPIRE STATE MANUFACTURING INDEX JUMPS TO -2.4; EST. -13.7; PREV. -43.7 🇺🇸🇺🇸 https://t.co/s4FlhefYdb