The Federal Reserve Bank of Philadelphia released a report on Thursday showing a sharp increase by its reading on regional manufacturing activity in the month January.
The Philly Fed said its diffusion index for current general activity surged to a positive 12.6 in January from a negative 8.8 in December, with a positive reading indicating growth. Economists had expected the index to climb to a negative 3.5.
Looking ahead, the Philly Fed said most of the survey’s broad indicators for future activity declined but continued to suggest expectations for overall growth over the next six months.
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.
