Philly Fed Index Unexpectedly Increases In March

(RTTNews) - Manufacturing activity in the Philadelphia region continued to expand in the month of March, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday.

The Philly Fed said its diffusion index for current general activity rose to 18.1 in March from 16.3 in February, with a positive reading indicating growth. Economists had expected the index to pull back to 10.0.

Looking ahead, the Philly Fed said firms continue to expect overall growth over the next six months, although the diffusion index for future general activity slipped to 40.0 in March from 42.8 in February.