FYI: Today’s report on manufacturing in the Philadelphia region followed the trend of its sibling in New York and moved lower in April, posting a larger decline than expected. While economists were expecting the headline index to retreat from March’s multi-month high of 32.8 down to 22.5, the actual reading was slightly lower at 22.0. While both the Philly Fed and Empire Manufacturing reports declined this month, the Philly indicator still remains above levels it was at the end of 2016, even as the Empire Manufacturing report dropped to levels not seen since November.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/philly-fed-follows-empire-manufacturing-south/
