Philadelphia Fed manufacturing index hits 2-year high in April, driven by new orders and shipments growth.
Philadelphia Fed manufacturing index surges to 2-year high in April, with new orders and shipments of finished goods showing strong growth. The index rose to 15.5 from 3.2 in March, marking the most significant expansion in the US Mid-Atlantic region since April 2022. However, input cost pressures have increased, potentially influencing the Federal Reserve's decision on interest rate cuts. The Philly Fed's index for new orders climbed to its highest since August 2021, and shipments activity reached its most robust since August 2020.
April 18, 2024
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