Manufacturing activity in the Philadelphia region continued to grow but remained subdued in the month of December, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.
The report said the diffusion index for current general activity dropped to 9.4 in December after tumbling to 12.9 in November.
While a positive reading still indicates growth in regional manufacturing activity, economists had expected the index to rise to 15.0.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.