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.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
For comments and feedback: editorial@rttnews.com