The general business activity index from the Philly Fed’s manufacturing survey was a reading of 22.3 in September. This is a significant increase from the 9.3 reading in August and is the highest the index has been since March 2011. Readings above 0 indicate economic expansion in the manufacturing sector, so this figure suggests expansion at a faster pace than in August.
September’s reading was composed of 36.2% of the businesses surveyed reporting that business conditions had improved during the month, while 13.8% reported that conditions had worsened.
Quant ESG With PanAgora Asset Management’s George Mussalli
ValueWalk's Raul Panganiban interviews George Mussalli, Chief Investment Officer and Head of Equity Research at PanAgora Asset Management. In this epispode, they discuss quant ESG as well as PanAgora’s unique approach to it. The following is a computer generated transcript and may contain some errors. Q3 2020 hedge fund letters, conferences and more Interview . Read More
The Philly Fed is the second of the five Federal Reserve banks that conduct manufacturing surveys to report for the month of September. Currently, all five Fed surveys indicate economic expansion in the manufacturing sector.