Philadelphia-area manufacturing activity expanded at a slightly slower rate in the month of June, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.
The Philly Fed said its diffusion index for current general activity slipped to 30.7 in June from 31.5 in May, although a positive reading still indicates growth in regional manufacturing activity. Economists had expected the index to edge down to 31.0.
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.