A report released by the Federal Reserve Bank of New York on Friday unexpectedly showed growth in regional manufacturing activity in the month of July.
The New York Fed said its general business conditions index jumped to a positive 11.1 in July from a negative 1.2 in June, with a positive reading indicating growth in regional manufacturing activity. The increase surprised economists, who had expected the index to edge down to a negative 2.0.
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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.