-
Philly Fed manufacturing index picks up in April Highest since last September
A reading of manufacturing sentiment in the Philadelphia region improved in April, according to data released Thursday, contradicting a disappointing regional index from the New York Fed released earlier in the week. The Philadelphia Fed’s manufacturing index rose to a reading of 16.6 in April from 9.0 in March, stronger than a MarketWatch-compiled economist forecast of 10.0. It is the strongest reading since last September. Any reading above zero indicated expansion. The index has improved markedly from a negative 6.3 reading in February that was blamed on severe winter weather. The components of the report were ... (full story)