The latest release of the Philly Fed's manufacturing survey absolutely crushed expectations on Thursday in another strong sentiment reading for the US economy.
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Philly Fed manufacturing demolishes expectations, hits its highest level since 1984
The index is expected to come in at 18.0, a slight fall from last month's reading.
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The index registered a 43.3 for the month, soaring past economists' expectations of 18.0, and leaping up from the 23.6 reading in January.
According to a tweet from Bespoke Investment Group, this is the highest reading for the index since 1984 and the biggest beat relative to expectations since 1998.
Overall, the data seems to indicate a huge leap for current activity as firms reported higher sales and shipments.
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