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Financial News: Philly Fed Index Indicates Slower Growth In September

Philly Fed Index Indicates Slower Growth In September

09/19/2019 - 08:42:00 (RTTNews)

(RTTNews) - A report released by the Federal Reserve Bank of Philadelphia on Thursday showed a modest slowdown in the pace of growth in regional manufacturing activity in the month of September.

The Philly Fed Index said its diffusion index for current general activity fell to 12.0 in September from 16.8 in August, although a positive reading still indicates growth in regional manufacturing activity. The index had been expected to drop to 11.0.

Looking ahead, the survey's future general activity index moderated but continues to suggest growth over the next six months.

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