Philly Fed Index Unexpectedly Turns Negative September
By RTTNews Staff Writer ✉ | Published:
Philadelphia-area manufacturing activity unexpectedly contracted in the month of September, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.
The Philly Fed said its current general activity index slumped to a negative 9.9 in September from a positive 6.2 in August, with a negative reading indicating a contraction in regional manufacturing activity.
Economists had expected the Philly Fed index to drop to a positive 2.8.
Looking ahead, the Philly Fed said expectations for growth over the next six months were subdued, as the future general activity index improved but remained negative.
For comments and feedback contact: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
Responses