After reporting a steep drop by its reading on regional manufacturing activity in the previous month, the Federal Reserve Bank of Philadelphia released on report on Thursday showing the index rebounded in November but remained in negative territory.
The Philly Fed said its diffusion index for current general activity jumped to a negative 1.7 in November after plummeting to a negative 12.8 in October, although a negative reading still indicates contraction. Economists had expected the index to climb to a negative 3.1.
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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.