FYI: The Philadelphia Fed’s monthly report on manufacturing came in slightly better than expected for April. While economists were expecting a slight decline to 21.0 from last month’s reading of 22.3, the actual reading showed a slight increase to 23.2. From a bigger picture perspective, the headline report has been positive for 23 straight months now, which is the longest streak since August 2015. Even more impressive, though, is the fact that the last 17 of those monthly reading have been above 20, and that’s tied with the period ending in June 1984 for the longest streak in the history of the survey.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/a-slight-beat-for-the-philly-fed/
