Philly Fed factory index is little changed in July

(Sharecast News) - Manufacturing sector activity in the U.S. mid-Atlantic region was little changed in July, according to the results of a closely followed survey. The Federal Reserve Bank of Philadelphia's factory sector index edged up from a reading of -13.7 for June to -13.5 (consensus: -10.0).

A key gauge tracking new orders worsened from -11.0 to -15.9.

The sub-index for prices paid meanwhile slipped from 10.5 to 9.5 and that for shipments fell from 9.9 to -12.5.

The sub-index linked to staffing levels dipped further from -0.4 to -1.0.

An index for expectations regarding business activity six months ahead did jump from 12.7 to 29.1

However, a sub-index tied to intentions for capital outlays over the same time frame dipped from 9.9 to 8.6.

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