Philly Fed October non-manufacturing index +33.4 vs +9.6 prior

26/10/2021 | 12:32 GMT

Signs of a rebound in Q4 activity

New orders +14.6 vs +14.7 prior
Wage and benefit costs +51.3 vs +42.1 prior

This is a low tier indicator that can be volatile so I would be wary of reading too much into it. We'll get some better data later today.

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