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Philly Fed Index Unexpectedly Tumbles Into Negative Territory In August

Por: RTTNews Business August 15, 2024

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A report released by the Federal Reserve Bank of Philadelphia on Thursday said regional manufacturing softened overall in the month of August.The Philly Fed said its diffusion index for current general activity plunged to a negative 7.0 in August from a positive 13.9 in July, with a negative reading indicating contraction. Economists had expected the index to decrease to a positive 7.0.The steep drop by the headline index came as the new orders... + full article



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