{"id":11169,"date":"2023-12-06T19:08:11","date_gmt":"2023-12-06T19:08:11","guid":{"rendered":"https:\/\/connectwithfund.com\/economy\/philadelphia-fed-manufacturing-index-continues-long-trend-in-contractionary-territory\/"},"modified":"2023-12-06T19:08:12","modified_gmt":"2023-12-06T19:08:12","slug":"philadelphia-fed-manufacturing-index-continues-long-trend-in-contractionary-territory","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=11169","title":{"rendered":"Philadelphia Fed manufacturing index continues long trend in contractionary territory"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002731916\" role=\"document\">\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<p>          <!-- eventually when we know what this card will be we can change it and leave this one --><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p><strong>The numbers:<\/strong> The Philadelphia Fed said Thursday its gauge of regional business activity improved slightly to negative 5.9 in November from negative 9 in the prior month. Any reading below zero indicates deteriorating conditions.\u00a0<\/p>\n<p>Economists polled by the Wall Street Journal expected a negative 7.5 reading in November. <\/p>\n<div class=\"paywall\">\n<p>This is the 16th negative reading in the past 18 months. <\/p>\n<p><strong>Key details:<\/strong> The barometer on new orders fell 3 points but remained at positive 1.3 in November.<\/p>\n<p>The shipments index dropped sharply from 10.8 in October to negative 17.9 this month.<\/p>\n<p>The six-month business outlook fell from 9.2 in October to negative 2.1 this month, which was the first negative reading since May.<\/p>\n<p><strong>Big picture:<\/strong> Economists have been talking about the possibility of a stabilization in the factory sector. <\/p>\n<p>Earlier this week, the Empire State index rose to 9.1, the highest level since April.<\/p>\n<p>The New York and Philadelphia Fed reports are the first regional manufacturing gauges that offer timely reads of the manufacturing sector.<\/p>\n<p>In October, the national ISM factory index fell 2.3 percentage points to 46.7%. <\/p>\n<p><strong>What are they saying? <\/strong>\u201cThis can be a volatile indicator, and therefore any single monthly result ought not to be extrapolated. With the exception of what seems to be an anomalous August result, the general picture is one of a difficult business environment,\u201d said Josh Shapiro, chief economist at MFR Inc.<\/p>\n<p><strong>Market reaction: <\/strong>Stocks<br \/>\n        DJIA<\/p>\n<p>        SPX<br \/>\n       were lower on Thursday, while the 10-year Treasury yield<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       fell about 7 basis points to 4.45% in early morning trading,<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/philadelphia-fed-manufacturing-gauge-negative-in-november-for-16th-month-of-contraction-in-past-18-7dedef0e?mod=economy-politics\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The numbers: The Philadelphia Fed said Thursday its gauge of regional business activity improved slightly to negative 5.9 in November from negative 9 in the prior month. Any reading below zero indicates deteriorating conditions.\u00a0 Economists polled by the Wall Street Journal expected a negative 7.5 reading in November. This is the 16th negative reading in the past 18 months. Key details: The barometer on new orders fell 3 points but remained at positive 1.3 in November. The shipments index dropped sharply from 10.8 in October to negative 17.9 this month. The six-month business outlook fell from 9.2 in October to<\/p>\n","protected":false},"author":1,"featured_media":11170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[],"class_list":["post-11169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Philadelphia Fed manufacturing index continues long trend in contractionary territory | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"The numbers: The Philadelphia Fed said Thursday its gauge of regional business activity improved slightly to negative 5.9 in November from negative 9 in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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