Forex News

The index of business activity of the Federal Reserve Bank of Philadelphia fell sharply in August

According to a report published by the Federal Reserve Bank of Philadelphia on Thursday, growth in manufacturing activity in Philadelphia slowed much more than expected in August.

The Philadelphia Federal Reserve said that the index of total current activity fell to 11.9 in August from 25, 7 in July. Although the positive value still indicates an increase in regional production activity. Economists had expected the index to show a much more modest fall to 22.0.