The Philadelphia Branch of the US Federal Reserve (Fed) announced the manufacturing index data for November. According to the results of the survey conducted by the bank, the index decreased from 10.3 to minus 5.5 in November.
The market expectation for the index, which had a negative value for the second time since January, was to realize it at a value of 7.4 in this period.
The new order index decreased by 5.3 points to 8.9 in November. The shipment index also decreased by 2.9 points to 4.5 in the same period. The employment index increased from minus 2.2 to 8.6 in this period.
A value above zero in manufacturing indices, which provide information about the outlook in the production sector, indicates growth in the sector, while a value below zero indicates a contraction.
Source: www.dunya.com
