• The headline Philly Fed manufacturing index rose to 23.2, above the expected 20.0. 
• FX markets did not react to the stronger than expected survey. 

According to a report from the Federal Reserve Bank of Philadelphia released on Thursday, the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey rose to 23.2 in January from 20.0 in December. That was bigger than the expected rise to 20.0. 

Subindices

• The New Orders Index rose to 17.9 from 13.7. 
• The Prices Paid Index rose to 72.5 from 66.1.
• The Employment Index fell to 26.1 from 33.9. 
• The Six-Month Business Conditions Index rose to 28.7 from 19.0. 
• The Six-Month Capital Expenditures Index rose to 26.2 from 20.0. 

Market reaction

FX markets did not react to the stronger than expected Philly Fed survey.