Philly Fed index surges in January

(Sharecast News) - Factory sector activity in the US mid-Atlantic region surged at the beginning of 2025. The Federal Reserve bank of Philadelphia's manufacturing sector index climbed from a reading of -10.9 in December to 44.3 for January.

Economists had pencilled in a reading of -5.

The key sub-index tracking new orders jumped from -3.6 to 6.3, while that for shipments was up from 1.7 to 7.4.

Yet price pressures eased with the corresponding sub-index falling back from 26.6 to 3.9.

Another sub-index linked to the number of employees at firms meanwhile improved from 4.8 to 11.9.