September Philadelphia FED General Business Conditions Index At -0.7
(For September 2010)
Philadelphia FED General Business Conditions Index rose to -0.7. The consensus was at +3.8, prior reading at -7.7. Again bellow consensus and again pointing to contraction.
Both Empire State Manufacturing and Philadelphia FED General Business Conditions Index point to lower ISM manufacturing.
Chart 1. ISM vs. Philadelphia FED, Empire State Manufacturing Surveys and Chicago PMI
Source: Bloomberg
Chicago Purchasing Managers Index, Empire State Manufacturing Survey, ISM Manufacturing Index, Philadelphia Fed General Business Conditions Index