US: Philly Fed Nonmanufacturing Index improves modestly to 5.6 in December

• Philly Fed Nonmanufacturing Index rose slightly in December.
• US Dollar Index stays in the green above 90.00 after the data.

The headline Firm-level Business Activity Index of the Federal Reserve Bank of Philadelphia's Nonmanufacturing Business Outlook Survey improved slightly to 5.6 in December from 5.3 in November. 

Further details of the publication revealed that the Full-time Employment Index slumped to -4.2 from 13.9, the New Orders Index edged lower to -4.5 from -3.7 and the Wage and Benefit Cost Index rose to 14.4 from 10.6.

Market reaction

The US Dollar Index largely ignored this report and was last seen clinging to modest daily gains at 90.17.