Business index of the Federal reserve bank, or Philadelphia Federal index represents results of surveying industrial managers of Philadelphia enterprises about their attitude to current economic conditions and further business outlook. The value below zero signalizes about negative trends in the US economy.
The index is published on every third Thursday of month at 10:00 a.m EST (New York). Market response to the index is minor. Its growth favorably influences consolidation of national currency. Since the value is published shortly before NAPM index, it is closely watched and then forecast on expected national PMI is made.
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