Investing.com – Manufacturing activity in Philadelphia increased unexpectedly in December, official data showed on Thursday.
In a report, the Federal Reserve Bank of Philadelphia said that its manufacturing index rose to 24.3 in December, after rising to 22.5 in November.
Analysts had expected the index to fall to 14.1 in December.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
The report said that all of the survey's broad indicators remained positive and suggest an expansion of activity. Increases in input prices were more widespread this month, and more firms reported increases in prices for their manufactured goods.
In addition, the survey’s broad indicators of future activity suggest that optimism among the region’s manufacturing executives also continues to improve.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD rising 0.06% to hit 1.3223.
Meanwhile, U.S. stock markets were mixed: the Dow Jones Industrial Average slumped 0.12%, the S&P 500 index climbed 0.07%, while the Nasdaq 100 added 0.16%.
In a report, the Federal Reserve Bank of Philadelphia said that its manufacturing index rose to 24.3 in December, after rising to 22.5 in November.
Analysts had expected the index to fall to 14.1 in December.
On the index, a reading above 0.0 indicates improving conditions, below indicates worsening conditions.
The report said that all of the survey's broad indicators remained positive and suggest an expansion of activity. Increases in input prices were more widespread this month, and more firms reported increases in prices for their manufactured goods.
In addition, the survey’s broad indicators of future activity suggest that optimism among the region’s manufacturing executives also continues to improve.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD rising 0.06% to hit 1.3223.
Meanwhile, U.S. stock markets were mixed: the Dow Jones Industrial Average slumped 0.12%, the S&P 500 index climbed 0.07%, while the Nasdaq 100 added 0.16%.