Philly Fed Index Soars To Nearly Five-Year High In July

The Philadelphia Fed’s regional manufacturing activity report for July showed a sharp rebound, rising by much more than expected. The upside surprise in regional activity is likely to support views that underlying industrial demand is stabilizing, though the article does not provide the specific print.

Analysis

The Philadelphia Fed’s regional manufacturing activity report for July showed a sharp rebound, rising by much more than expected. The upside surprise in regional activity is likely to support views that underlying industrial demand is stabilizing, though the article does not provide the specific print.