Index shows negative reading for 15 out of last 17 months

  • Philadelphia Fed manufacturing gauge remains in contractionary territory for second straight month
  • Headline index has been negative in 15 out of last 17 months
  • Index improved 5 points but remained at negative 9.0
  • New orders and shipments subcomponents showed strength
  • Six-month business outlook edged down
  • Employment index turned positive and prices increased

Factuality Level: 7
Justification: The article provides specific data from the Philadelphia Fed about regional business activity, including the index reading and changes in subcomponents. It also mentions economists’ expectations. However, the article lacks context and background information, and it is quite brief.

Noise Level: 3
Justification: The article is very short and lacks in-depth analysis or context. It mainly provides basic information about the Philadelphia Fed’s regional business activity index without providing any meaningful insights or implications. The article also contains filler content such as requests for feedback and updates on the story developing, which adds to the noise level.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information on the Philadelphia Fed’s gauge of regional business activity, which can impact financial markets and companies in the region.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses the Philadelphia Fed’s gauge of regional business activity, which is relevant to financial markets and companies in the region. However, there is no mention of any extreme event or its impact.

Public Companies: Philadelphia Fed (), Wall Street Journal ()
Private Companies:
Key People:

The Philadelphia Fed manufacturing gauge has remained in contractionary territory for the second consecutive month in October. Despite a 5-point improvement, the index remained at a negative 9.0, marking its 15th negative reading in the past 17 months. However, there were some positive signs within the subcomponents of the index, with new orders increasing by 14.6 points and shipments rising by 14 points. The six-month business outlook edged down, while the employment index turned positive and prices increased.