Philly Fed manufacturing index strengthens sharply in April

(Sharecast News) - Manufacturing conditions in the Philadelphia region strengthened sharply in April, with the Philadelphia Federal Reserve's manufacturing index rising to 26.7 from 18.1 in March - its highest reading since January 2025 and well above expectations for a drop to 10. Shipments increased by 12 points to 34 and new orders jumped 24 points to 33, while the employment index weakened, slipping six points to ‑5.1, and price pressures continued to build, with both the prices paid and prices received indexes rising for a second month and reaching their highest levels since August - climbed 15 points to 59.3 and 12 points to 33.5, respectively.

However, US firms remained optimistic about growth over the next six months, though most forward‑looking indicators edged lower.





Reporting by Iain Gilbert at Sharecast.com