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Financial News: Philly Fed Index Jumps Much More Than Expected

Philly Fed Index Jumps Much More Than Expected In November

11/18/2021 - 08:41:00 (RTTNews)

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

The Philly Fed said its diffusion index for current activity jumped to 39.0 in November from 23.8 in October, with a positive reading indicating growth. Economists had expected the index to inch up to 24.0.

Looking ahead, the report said the future indexes continue to indicate that the firms expect growth over the next six months.

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