Philly Fed: Manufacturing activity grew at a slower pace in July

Eren Sengezer FXStreet

"Manufacturing activity in the region continues to grow but at a slower pace, according to results from the July Manufacturing Business Outlook Survey," said the Federal Reserve Bank of Philadelphia on Thursday.

Key quotes:

The survey’s six-month indicators remained positive this month, with firms generally expecting growth to continue
The diffusion indexes for general activity, new orders, shipments, employment, and work hours remained positive but fell from their readings in June
More than one-third of the manufacturers expect to add to their payrolls over the next six months

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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