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Philly Fed index slips in April, even as new orders jump back

By Alexander Bueso

Date: Thursday 18 Apr 2019

Philly Fed index slips in April, even as new orders jump back

(Sharecast News) - Factory activity in the US mid-Atlantic region slowed in April, according to the results of one of the most closely-followed surveys covering the sector.
The Federal Reserve bank of Philadelphia's manufacturing sector gauge slipped from a reading of 13.7 for March to 8.5 in April.

Consensus was expecting a reading of 11.0.

However, the most forward-looking sub-index, linked to new orders, jumped from 1.9 to 15.7, with another that tracks inventory levels retreating from 17.2 to 2.6.

A gauge of the prices paid by firms also moved higher, from 19.7 to 21.6, as did those linked to the jobs market, signaling both increased hiring and longer workweeks.

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