Interesting.
[qoute]NEW YORK (Reuters) - Factory activity in the Mid-Atlantic United States expanded much more rapidly this month, a regional central bank said on Thursday in a report that countered growing fears of a slowdown in economic growth.
The Philadelphia Federal Reserve said its business activity index jumped to 25.3 in April from 11.4 in March, confounding Wall Street forecasts of a dip to 10.0. A measure above zero denotes growth in the sector.
"It's a pretty solid performance, a good indicator that the manufacturing sector is probably still growing nicely," said Patrick Fearon, senior economist at A.G. Edwards & Sons. |
