The Federal Reserve Bank of Philadelphia released a report on Thursday showing manufacturing activity in the region unexpectedly expanded overall in the month of July.
The Philly Fed said its diffusion index for current general activity surged to a positive 15.9 in July from a negative 4.0 in June, with a positive reading indicating growth. Economists had expected the index to rise to a negative 1.0.
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Forex News
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.