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Economic Report: Philly Fed index moves into positive territory in August

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The Philadelphia city skyline

WASHINGTON (MarketWatch) — The Philadelphia Fed’s barometer of regional manufacturing activity rebounded slightly into positive territory in August, only the third positive reading of the year.

The Philly Fed’s gauge of regional manufacturing activity rose to positive 2 in August from negative 2.9 in July.

The small increase was in line with expectations. Positive readings indicate that a larger percentage of respondents said there was a increase in the level of general business activity than the percentage who said there was a decrease.

Aug Philly Fed business outlook +2.0 vs +2.0 expected https://t.co/1NxRFW3RYGpic.twitter.com/5tWqZb7Dg9

— Tudor Barle (@TudorBarle) August 18, 2016

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