Just like the Empire Manufacturing Index a couple of days ago, the Philly Fed Business Outlook turned out much more positive than expected. And just like the Empire Manufacturing Index, we can forget about these numbers almost immediately because most of the survey was conducted before the latest escalation of the US-China trade war. As a result, we should not expect the increase in shipments and the expected continued increase of this component over the next six months that drove the positive surprise to last much longer. The increase in tariffs on both sides of the divide should dampen business sentiment in the coming months.
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(Almost) Daily Market News Update
- Published:
17 May 2019 -
Author:
Joachim Klement -
Pages:
6
Just like the Empire Manufacturing Index a couple of days ago, the Philly Fed Business Outlook turned out much more positive than expected. And just like the Empire Manufacturing Index, we can forget about these numbers almost immediately because most of the survey was conducted before the latest escalation of the US-China trade war. As a result, we should not expect the increase in shipments and the expected continued increase of this component over the next six months that drove the positive surprise to last much longer. The increase in tariffs on both sides of the divide should dampen business sentiment in the coming months.