A report released by the Federal Reserve Bank of Philadelphia on Thursday showed an unexpected acceleration in the pace of growth in regional manufacturing activity in the month of March.
The Philly Fed said its diffusion index for current activity jumped to 27.4 in March from 16.0 in February, with a positive reading indicating growth in regional manufacturing activity. The increase surprised economists, who had expected the index to edge down to 15.0.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.