Philadelphia Fed Manufacturing Index for January is favorable
The most representative economic indicator in the United States is the ISM Manufacturing Index. (The previous month's data is released on the 1st of the current month)
Then, without us noticing, the Philadelphia Fed Manufacturing Index emerged as an indicator that would gauge the ISM Manufacturing Index. (The current month’s data is released within the current month)
After that, the New York Fed also began releasing a similar indicator earlier.
Nowadays, places like Chicago also publish similar indicators, but the major ones, in order of release, are the New York Fed Index, the Philadelphia Fed Manufacturing Index, and the ISM Manufacturing Index.
The day before yesterday, the January New York Fed Manufacturing Index was released and worsened unexpectedly.
Today (January 20), the January Philadelphia Fed Manufacturing Index was released. It was a favorable number that seemed to offset the results of the New York Fed Manufacturing Index. Is the market reassured?
For reference,
Philadelphia FedSix-month Outlookdata has also been released, but it is low. However, this is not a new phenomenon, so the market is not paying much attention.
Additionally, the number of initial unemployment claims for the week ending January 15 has been released and somewhat increased. It is believed to reflect the impact of the Omicron variant, but the spread of Omicron is nearing its peak, and the market does not seem to be concerned about this data.
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