US: Philly Fed Manufacturing Index drops to 8.5 in April vs 10.4 expected

Eren Sengezer FXStreet

"The index for current manufacturing activity in the region decreased from a reading of 13.7 in March to 8.5 this month," the Federal Reserve Bank of Philadelphia said in its latest Manufacturing Business Outlook Survey.

Key takeaways from the press release

The new orders index increased 14 points to 15.7 this month.
The current inventory index fell, by 15 points to a reading of 2.6.
The current employment index increased from a reading of 9.6 in March to 14.7 this month.
The diffusion index for future general activity declined nearly 3 points to 19.1, its lowest reading since February 2016.

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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