December 2016 US Philly Fed non-manufacturing index 20 December 2016
Firm level activity 30.4 vs 15.6 prior
New orders 21.6 vs 12.6 prior
Employment 19.7 vs 14.3 prior
Wages and benefits 33.0 vs 25.7 prior
A strong reading from the services side of the Philly Fed report. Not a big one for the market, so much so that none of the main calendars advertise that's it's due. Still, another small piece of the puzzle. Most notable will be the wage gains.
