Separate report on Philly Fed Manufacturing Index showed that s key measure of manufacturing activity in the Philadelphia region surged unexpectedly in February, fueling optimism about the health of the industrial sector at the start of 2017. The Philadelphia Federal Reserve Bank manufacturing survey rose to 43.3 in February, following an increase to 23.6 the previous month. That was the highest level since 2011. Analysts in a median estimate forecast a sharp decline to 18.5.
Unemployment Claims increased to 239,000
In the week ending February 11, the advance figure for seasonally adjusted initial claims was 239,000, an increase of 5,000 from the previous week's unrevised level of 234,000. The 4-week moving average was 245,250, an increase of 500 from the previous week's revised average. The previous week's average was revised up by 500 from 244,250 to 244,750.
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