[Homestead] Manufacturing Index
lkvp at floydva.net
Thu Sep 16 14:01:16 EDT 2004
> The Fed's Philadelphia branch said its September general economic
> index fell to 13.4 for this month from 28.5 in August. The index was
> expected to be 25, based on the median forecast of 56 economists
> surveyed by Bloomberg News. Readings above zero indicate expansion,
> and it has been in positive territory for the last 15 months.
> There are signs of strength in the economy. Yesterday, the New York
> Fed said its index, which provides the first clues to manufacturing
> performance in the current month, surged to 28.34 - - more than the
> median reading of 20 that economists forecast in a Bloomberg News
> survey. Readings above zero indicate expansion. Manufacturing accounts
> for about 13 percent of the economy.
I visit the bloomberg site frequently throughout the day. An hour ago
the new headline was the manufacturing index in Philly had dropped more
than forecast, it then quickly disappeared and was merged into other
stories. The above paragraphs are within the current second story
"Treasures Rise more than US Consumer Inflation, Regional Manufacturing
Reports". How can Philly fall to about half of what was predicted and
NYC rise to above what was predicted? How can Philly falling that much
be true 'signs of strength in the economy'?
When you read this story, in my mind it's confusing and conflicting
Philadelphia and NYC are not far from each other--is their manufacturing
base that drastically different?
More information about the Homestead