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Philly Fed business index jumps to five-year high in August

Forexlive reports the general activity index climbed to a five-year high as employment rose, while price indexes eased but stayed elevated.

Reported · Written up by our desk · Economy

The Philly Fed’s regional survey for August showed continued manufacturing expansion, with the general activity indicator rising to a five-year high, according to Forexlive.

The new orders and shipments indexes moved lower during the month but remained elevated, while the employment index rose, supporting the view that overall employment gains continued.

Both price indexes declined in August but stayed elevated, and most future indicators jumped higher, signaling expectations for broader growth over the next six months.

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