Philly Fed Index Inches Up Less Than Expected In October

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Philly Fed Index Inches Up Less Than Expected In October

(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing a continued contraction in regional manufacturing activity in the month of October.

The Philly Fed said its diffusion index for current activity inched up to a negative 8.7 in October from a negative 9.9 in September, but a negative reading still indicates a contraction. Economists had expected the index to climb to a negative 5.0.

Looking ahead, the Philly Fed said the survey's future general activity indexes suggest that the surveyed firms expect declines overall over the next six months.

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U.S. Housing Starts Pull Back Sharply In May

U.S. Housing Starts Pull Back Sharply In May

The Commerce Department released a report on Wednesday showing a steep drop by new residential construction in the U.S. in the month of May. The report said housing starts plunged by 9.8 percent to an annual rate of 1.256 million in May after jumping by 2.7 percent to a revised rate of 1.392 million in April.
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U.S. Jobless Claims Pull Back Off Eight-Month High

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U.S. Industrial Production Unexpectedly Dips 0.2% In May

U.S. Industrial Production Unexpectedly Dips 0.2% In May

Industrial production in the U.S. unexpectedly saw a modest decrease in the month of May, according to a report released by the Federal Reserve on Tuesday. The Fed said industrial production dipped by 0.2 percent in May following a revised 0.1 percent uptick in April.
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