financetom
Economy
financetom
/
Economy
/
January Philadelphia Fed Regional Nonmanufacturing Activity Index Falls, Indicates Faster Contraction
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
January Philadelphia Fed Regional Nonmanufacturing Activity Index Falls, Indicates Faster Contraction
Jan 21, 2025 5:54 AM

08:40 AM EST, 01/21/2025 (MT Newswires) -- The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index fell to minus 9.1 in January from minus 3.4 in the previous month.

The index suggests further contraction in the sector, which is in line with the New York Federal Reserve's services measure released on Jan 16.

The readings for sales, prices and employment all decreased in the month but remained above the breakeven point, while the new orders index returned to positive territory.

The six-month outlooks at both the regional and firm levels declined, though 45% of respondents still expect expansion in the region over the next six months, compared with only 18.8% that expect contraction.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2025 - www.financetom.com All Rights Reserved