Philly Fed Index Unexpectedly Jumps To Highest Level In Over A Year In April

The Federal Reserve Bank of Philadelphia reported an unexpected surge in regional manufacturing activity in April. The report indicates stronger-than-anticipated economic momentum in the region, which is a modest positive for growth-sensitive assets.

Analysis

The Federal Reserve Bank of Philadelphia reported an unexpected surge in regional manufacturing activity in April. The report indicates stronger-than-anticipated economic momentum in the region, which is a modest positive for growth-sensitive assets.