USA: Processing in Philadelphia fell from the highs of March

Manufacturing activity in Philadelphia in the US fell in April, as shown by the relevant measurement of the local Fed branch.

In particular, the Philadelphia Fed manufacturing index stood at 17.6 points after jumping to 27.4 points in March, while analysts in the Wall Street Journal forecast a smaller decline to 21.9 points.

It is noted, however, that the activity remained strong, as any measurement on positive ground indicates growth of processing.

In the individual data of the measurement, the index for new orders fell to 17.8 points in April from the previous 25.8, as well as the index of shipments which fell to 19.1 points from 30.2.

The effects on the business half-year outlook were bigger, as the relevant index dropped sharply to 8.2 in April from 22.7 of the previous month.