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Tag: "Federal Reserve of Philadelphia"

Manufacturing Index “Unexpectedly” Contracts

The Federal Reserve bank of Philadelphia released the results of its May Business Outlook Survey. Manufacturers are reporting a shocking reversal in the survey’s measure of current manufacturing activity from 8.5 in April to -5.8 in May. Analysts had expected the activity measure to increase to 10.0 this month, but all of the indications from […]