US: Philadelphia Fed Manufacturing Index improves to 50.2 in April vs. 42 expected

Philly Fed Manufacturing Index rose sharply in April.
US Dollar Index inches higher toward 91.70 after the data.

Eren Sengezer FXStreet

The Federal Reserve Bank of Philadelphia reported on Thursday that the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey imorıoved to 50.2 in April from 44.5 in March. This reading beat the market expectation of 42 by a wide margin.

Further details of the publication showed that the Prices Paid Index edged lower to 69.1 from 72.6, the Employment Index rose to 30.8 from 27.4 and the Six-month Business Conditions Index climbed to 66.6 from 59.1.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen posting small daily gains at 91.67.

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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