May 2021 Philly Fed Manufacturing Survey Index Declined
Analyst Opinion of the Philly Fed Business Outlook Survey
Overall, this report was worse than last month and key elements improvements were mixed
This is a very noisy index which readers should be reminded is sentiment-based. The Philly Fed historically is one of the more negative of all the Fed manufacturing surveys but has been more positive than the others recently.
The index moved from 50.2 to 31.5. Positive numbers indicate market expansion, negative numbers indicate contraction. The market expected (from Econoday) 39.5 to 48.0 (consensus +45.0).
Manufacturing activity in the region continued to grow, according to the firms responding to the May
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U S regional manufacturing continues to grow in May: survey
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Coronavirus Economic Weekly News 18April 2021
News posted last week about economic effects related to the coronavirus 2019-nCoV (aka SARS-CoV-2), which produces COVID-19 disease, has been surveyed and some articles are summarized here. We cover the latest economic data, especially the new coronavirus relief bill and stimulus checks, government funding, the latest employment data, housing market reports, mortgage delinquencies & forbearance, layoffs, lockdowns, and schools, as well as GDP. The bulk of the news is from the U.S., with a few more articles from overseas at the end. (Picture below is morning rush hour in downtown Chicago, 20 March 2020.) News items about epidemiology and other medical news for the virus are reported in a companion article.