International Economic
Philly Fed factory index drops unexpectedly in August
By Alexander Bueso
Date: Thursday 15 Aug 2024
(Sharecast News) - Factory activity in the US mid-Atlantic region shrank unexpectedly in August, the results of a closely followed survey showed.
The Federal Reserve Bank of Philadelphia's manufacturing sector index fell from a level of 13.9 in July to -7.0.
Economists had pencilled in a reading of 7.0.
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