Make Kitco Your Homepage

Philly Fed Survey Shows Strong Momentum In Manufacturing Sector

Kitco News

(Kitco News) - The manufacturing sector throughout the Philadelphia region is seeing significant positive sentiment, according to the latest data from the Philadelphia Federal Reserve.

Thursday, the regional central bank said the current general activity index in its manufacturing business outlook survey rose to 34.4 in May, up significantly from April’s reading of 23.2.

Consensus expectations compiled by various news organizations were for a reading of somewhere around 21.1.

The positive data comes after the New York Fed saw an improvement in sentiment in its regional manufacturing.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News