US January Philly Fed 22.2 vs 25.0 expected

January manufacturing PMI for the Philadelphia area - was 27.9 - New orders 10.1 vs 28.2 prior - Prices paid 32.9 vs 27.8 prior - Employment 16.8 vs 19.7 prior Solid report but the dip in new orders is a bit concerning. The rise in prices paid/received is something that's appearing more and more in surveys.
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