December Philly Fed continues trend of better economic news. Current manufacturing activity was positive for the third consecutive month and increased from 3.6 in November to 10.3 (anything over 0 indicates growth). The percentage of firms reporting increases in activity (25 percent) exceeded the percentage reporting decreases (15 percent). The index for current new orders also increased.
This is a positive, because it implies that business spending may begin rising — that means higher factory orders and capital goods orders.