FYI: While the Empire Manufacturing report (released earlier) disappointed relative to consensus forecasts, the February Philly Fed report beat expectations, coming in at a level of 25.8 compared to January’s reading of 22.8. At 21 months and counting, the Philly Fed is currently in its longest streak of positive readings since August 2015. More impressively, though, the last 15 months have seen readings in excess of 20. The only other period in the history of the report (since 1980) that saw as many or more monthly readings above 20 was in the 17-month stretch ending in June 1984!
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/philly-fed-surpasses-expectations-2/
