Philly Fed Index Dips Less Than Expected In August

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Manufacturing activity in the Philadelphia-area saw a slightly slower rate of growth in the month of August, the Federal Reserve Bank of Philadelphia revealed in a report on Thursday.

The report said the Philly Fed Index edged down to 18.9 in August from 19.5 in July, although a positive reading still indicates growth in regional manufacturing activity. The index has been expected to dip to 18.5.

The material has been provided by InstaForex Company – www.instaforex.com



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