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18.01.201808:48:00UTC+00Philly Fed Index Falls More Than Expected In January

Growth in activity in the Philadelphia-area manufacturing sector slowed by more than anticipated in the month of January, the Federal Reserve Bank of Philadelphia revealed in a report on Thursday.

The Philly Fed said its index for current manufacturing activity in the region slid to 22.2 in January from a revised 27.9 in December, although a positive reading still indicates growth.

Economists had expected the Philly Fed index to dip to 25.0 from the 26.2 originally reported for the previous month.

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