March Philadelphia FED General Business Conditions Index At 43.4
(For March 2011)
Philadelphia FED General Business Conditions Index rose to 43.4. Consensus was at 32.0, prior reading was at 35.9.
This is a positive outlier, it is highly unlikely that index can remain at these levels. Manufacturing surveys overestimate implied industrial growth in recent months.
Chicago Purchasing Managers Index, Empire State Manufacturing Survey, Industrial Production, ISM Manufacturing Index, Philadelphia Fed General Business Conditions Index, Richmond FED Manufacturing Survey