Financial News: Philly Fed Index Unexpectedly Jumps To Highest Level

Philly Fed Index Unexpectedly Jumps To Highest Level In Over A Year In April

04/16/2026 - 10:03:00 (RTTNews)

(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing an unexpected surge by its reading on regional manufacturing activity in the month of April.

The Philly Fed said its diffusion index for current general activity spiked to 26.7 in April from 18.1 in March, with a positive reading indicating growth. Economists had expected the index to decrease to 10.0.

With the unexpected increase, the Philly Fed Index jumped to its highest level since hitting 32.9 in January 2025.

The report said the new orders index soared to 33.0 in April from 8.6 in March, while the shipments index shot up to 34.0 in April from 22.2 in March.

Meanwhile, the number of employees index slid to a negative 5.1 in April from a positive 0.8 in March, indicating a downturn in employment.

The Philly Fed also said the prices paid index spiked to 59.3 in April from 44.7 in March, while the prices received index surged to 33.5 in April from 21.2 in March.

Looking ahead, the Philly Fed said the diffusion index for future general activity inched up to 40.8 in April from 40.0 in March, as firms continue to expect overall growth over the next six months.

A separate report released by the Federal Reserve Bank of New York on Wednesday unexpectedly showed a moderate increase in New York manufacturing activity in the month of April.

The New York Fed said its general business conditions index jumped to a positive 11.0 in April from a negative 0.2 in March, with a positive reading indicating growth. Economists had expected the index to dip to a negative 2.0.

Looking ahead, the New York Fed said firms still expect conditions to improve in the months ahead, although the index for future business conditions slumped to 19.6 in April from 31.0 in March, suggesting firms were less optimistic about the outlook.

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