A report released by the Federal Reserve Bank of Philadelphia on Thursday showed a substantial acceleration in the pace of growth in regional manufacturing activity in the month of January.
The Philly Fed said its diffusion index for current activity soared to 26.5 in January after slumping to a revised 9.1 in December, with a positive reading indicating growth in regional manufacturing activity.
Economists had expected the Philly Fed Index to inch up to 12.0 from the 11.1 originally reported for the previous month.
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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.