September 2014 Philly Fed Business Outlook Index Declines But Still Shows Strong Growth

September 2014 Philly Fed Business Outlook Index Declines But Still Shows Strong Growth



Here is a very important article about the Philly Fed business outlook along with other economic statistics.  The Philly Fed number for September was +22.5 which shows a strong economy.  The article also included statistics from other regions of the country along with a Federal Reserve chart called NAICS, Industrial Production: Manufacturing.



The NAICS chart in particular illustrated that we are nowhere near a recession.  This is why I remain bullish on the stock market while other uncertainties exist such as being overbought.  We may indeed have shallow corrections, but I doubt we would enter a bear market while the economy is doing well.