The Federal Reserve Bank of Philadelphia released a report on Thursday showing regional manufacturing activity contracted at a modestly faster rate in the month of June.
The Philly Fed said its diffusion index for current activity fell to a negative 13.7 in June from a negative 10.4 in May, with a negative reading indicating contraction. Economists had expected the index drop to a negative 14.0.
The modest decrease by the headline index partly reflected an accelerated contraction in new orders, as the new orders index slipped to a negative 11.0 in June from a negative 8.9 in May.
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Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.