FXstreet.com (Barcelona) – US Philadelphia Fed Manufacturing Survey improved to 18.9 in March from 17.6 in February. This increase betters market expectations of a rise to just 18.0.
The Philadelphia Fed Survey is a spread index of manufacturing conditions (movements of manufacturing) within the Federal Reserve Bank of Philadelphia. This survey, served as an indicator of manufacturing sector trends, is interrelated with the ISM manufacturing Index (Institute for Supply Management) and the index of industrial production. It is also used as a forecast of The ISM Index. Generally, an above-the-expectaitons reading is seen as positive for the USD.

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