US factory activity slows in April, Philly Fed says
By Alexander Bueso
Date: Thursday 21 Apr 2022
(Sharecast News) - Factory activity in the US mid-Atlantic region slowed in April amid faster price gains, the results of a closely-followed survey showed.
The Federal Reserve Bank of Philadelphia's regional manufacturing gauge fell from a reading of 27.4 for March to 17.6 in April.
That was modestly below the 21.4 print that economists had been anticipating.
The key sub-index linked to firms' new orders came in at 17.8, down from 25.8, but that linked to the prices paid by companies increased from 81.0 to 84.6.
Meanwhile, a subindex for staffing levels edged up from 38.9 to 41.4, while that for the average employee workweek drifted lower from 21.4 to 20.8.
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