(RTTNews) - The Federal Reserve Bank of Philadelphia released a report on Thursday showing an unexpected slowdown in the pace of growth by regional manufacturing activity in the month of June.
The Philly Fed said its diffusion index for current general activity fell to 1.3 in June from 4.5 in May, although a positive reading still indicates growth. Economists had expected the index to come in inch up to 5.0.
Looking ahead, the Philly Fed said most future activity indicators remained positive but suggest less widespread expectations for overall growth over the next six months.
