Factory activity in US mid-Atlantic region ebbs in February, Philly Fed says

(Sharecast News) - The pace of factory activity in the US mid-Atlantic region slowed in February, following a surge during the previous month. The Federal Reserve Bank of Philadelphia's regional manufacturing sector index slipped from a reading of 44.3 during the first month of the year to 18.1.

Consensus had been for a reading of 20.0.

A sub-index of new orders meanwhile fell back from 42.9 to 21.9.

The sub-index for prices paid on the other hand picked up from 31.9 to 40.5.

Another linked to the number of employees slipped from 11.9 to 5.1.

-- More to follow --