USA: Manufacturing activity accelerates in the Philadelphia region

The general index of the local Fed measuring activity climbed 8 points in January, to stand at 23.2 points, after falling 24 points in December.

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Manufacturing activity growth accelerated more than expected in the Philadelphia area of ​​the United States in January, after slowing in December, according to data from the regional branch of the American central bank published on Thursday. .

The general index measuring activity rose 8 points to 23.2 points, after falling 24 points in December.

The rebound is a little stronger than expected by analysts, who saw the index at only 20 points.

Indeed, the activity is growing when the index is above zero.

In detail, the indicators measuring “shipments and new orders recorded modest increases after a sharp drop last month”, underlines the press release.

“The employment index remained positive but down,” said the Fed, which means that the situation continued to improve, but at a slower pace than last month.

In addition, “price indices have remained high”, and companies that responded to the survey are “generally optimistic about growth over the next six months”.

Measured in a highly industrialized region of the northeastern United States, this leading indicator is considered a good barometer of the evolution of American economic activity.

The survey was conducted from January 10 to 18.

Manufacturing activity, on the other hand, recorded a slight decline in January in the New York region, for the first time since June 2020, according to the monthly indicator “Empire State” published on Monday by the regional branch of the Federal Reserve (Fed). ).

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