Preview: June Philly Fed Index
First Published Thursday, 9 July 2009 04:26 pm - © 2009 Need to Know News
The June Philly Fed Index is expected at -19 from -22.6 in May
The June Philly Fed Mfg. report is expected to reveal a modest headline increase however, despite drastic improvement from the apparent bottom in February, is expected to remain negative for a 9th consecutive month. The headline data is nonetheless expected to post its 4th straight monthly increase, though downside risk via continued manufacturing sector weakness has the potential to knock the data off its recent
path. The unexpected drop in the June Empire State Index is also suggestive of ongoing issues in manufacturing; however this drop does not guarantee a similar result for the Philly Fed data.
Philly Fed Sub-Indices for May:
New Orders: -25.9 vs. -24.3 prior Shipments: -19 vs. -35.7 prior Employment: -26.8 vs. -44.9
Prices Paid: -22.8 vs. -31.5 Inventories: -28.6 vs. -40.2
