Philadelphia Fed manufacturing index unexpectedly rises, signaling growth in September.
In September, the Philadelphia Fed manufacturing index rose to 1.7, signaling unexpected growth after a negative 7.0 in August. While 22% of firms reported increased activity, others faced declines in new orders and shipments. Despite mixed signals, the employment index improved, and firms anticipate ongoing growth. Similarly, the New York Fed reported regional manufacturing growth for the first time in nearly a year, reflecting a broader recovery in U.S. manufacturing.
September 19, 2024
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