Philly Fed Index Slumps More Than Expected In May
(RTTNews) - Philadelphia-area manufacturing activity saw a notable slowdown in the pace of growth in the month of May, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.
The Philly Fed said its diffusion index for current general activity tumbled to 4.5 in May from 15.5 in April, although a positive reading still indicates growth. Economists had expected the index to decrease to 8.0.
Looking ahead, the Philly Fed said firms continue to expect growth over the next six months.
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U.S. Industrial Production Decreases In Line With Estimates In October
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New York Manufacturing Index Soars Into Positive Territory November
A report released by the Federal Reserve Bank of New York on Friday showed regional manufacturing activity has seen a substantial turnaround in the month of November.
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U.S. Import Prices Unexpectedly Increase In October
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