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Philly Fed Index Unexpectedly Shows Steep Drop In February

Por: RTTNews Business February 16, 2023

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Philadelphia-area manufacturing activity unexpectedly contracted at an accelerated rate in the month of February, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.The Philly Fed said its diffusion index for current activity plunged to a negative 24.3 in February from a negative 8.9 in January, with a negative reading indicating a contraction. Economists had expected the index to inch up to a negative... + full article



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