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Philly Fed Index Slumps Much More Than Expected In August
(RTTNews) - Manufacturing activity in the Philadelphia area has weakened in the month of August, the Federal Reserve Bank of Philadelphia revealed in a report released on Thursday.
The Philly Fed said its diffusion index for current general activity tumbled to a negative 0.3 in August from a positive 15.9 in July, with a negative reading indicating contraction. Economists had expected the index to decrease to a positive 7.0.
Meanwhile, the report said firms continue to expect growth over the next six months, as the diffusion index for future general activity climbed to 25.0 in August from 21.5 in July.
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U.S. Services Index Climbs To Six-Month High In August
Service sector growth in the U.S. accelerated by more than anticipated in the month of August, according to a report released by the Institute for Supply Management on Thursday. The ISM said its services PMI rose to 52.0 in August from 50.1 in July, with a reading above 50 indicating growth. Economists had expected the index to inch up to 50.5.
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U.S. Labor Productivity Surges 3.3% In Q2, Much More Than Previously Estimated
A report released by the Labor Department on Thursday showed labor productivity in the U.S. surged by much more than previously estimated in the second quarter of 2025. The Labor Department said labor productivity shot up by 3.3 percent in the second quarter compared to the previously reported 2.4 percent jump. Economists had expected the increase in labor productivity to be unrevised.
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U.S. Trade Deficit Widens More Than Expected As Imports Spike
With the value of imports spiking, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened more than expected in the month of July. The Commerce Department said the trade deficit shot up to $78.3 billion in July from a revised $59.6 billion in June. Economists had expected the trade deficit to increase to $75.7 billion.
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U.S. Jobless Claims Rise More Than Expected To Two-Month High
A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended August 30th. The Labor Department said initial jobless claims climbed to 237,000, an increase of 8,000 from the previous week's unrevised level of 229,000.
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U.S. Private Sector Job Growth Slows More Than Expected In August
A report released by payroll processor ADP on Thursday showed private sector employment in the U.S. increased by less than expected in the month of August. ADP said private sector employment rose by 54,000 jobs in August after jumping by an upwardly revised 106,000 jobs in July. Economists had expected private sector employment to rise by 65,000 jobs.
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U.S. Labor Productivity Surges Much More Than Previously Estimated In Q2
A report released by the Labor Department showed labor productivity in the U.S. surged by much more than previously estimated in the second quarter of 2025.
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1 day ago
U.S. Trade Deficit Widens More Than Expected In July
With the value of imports spiking, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened more than expected in the month of July.
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1 day ago
U.S. Weekly Jobless Claims Rise More Than Expected
A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended August 30th.
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