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Several Trains Pulling Out of the Station

By Charles Payne, CEO & Principal Analyst

There are more signs that the U.S. economy is ready to take off like a rocket, which comes from the Philadelphia Federal Reserve Manufacturing Report. This saw all facets of the report rising sharply higher month - to - month with general activity clocking in at its highest level since November 2014:

  • General Activity -26.0 from 14.9
  • New Orders - 23.6 from 19.7
  • Employees - 12.8 from 3.6

While there is a renewed focus/angst with respect to inflation, I think it’s a good thing that manufacturers were able to raise prices received to keep pace with prices paid.

  • Prices Paid -  $31.5 from $28.1
  • Prices Received -26.8 from 8.0

Looking Ahead

The Six-Month read on general activity climbed to 56.6 from 48.7 in December.  Highlights:

  • 67%  Expect increases in activity
  • 43%  Expect increases in employment (as it was just 15% in December)

Consequently, for the first quarter, 62.5% of polled firms planned to increase production in the first quarter, and many will achieve this by hiring additional workers.

Charles Payne
Wall Street Strategies


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