Philadelphia-area manufacturing activity grew at a substantially slower rate in the month of December, the Federal Reserve Bank of Philadelphia revealed in a report on Friday.
The Philly Fed said its diffusion index for current activity tumbled to 15.4 in December after jumping to 39.0 in November, although a positive reading still indicates growth. Economists had expected the index to slump to 30.0.
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Forex News
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.