Philly Fed manufacturing index dropped to -56.5, but future activity improved

<p>Philadelphia Fed Manufacturing Business Outlook current activity index dropped to -56.5 in April, down from -12.7. That’s even below that nadir during the Great Recession, and was the lowest since July 1980. Looking at some details, new orders fell further into negative territory, from -15.5 to -70.9, record low. Current shipments dropped -74 pts to […]</p>
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