US Factory Activity Picks Up in April

Factory activity in the U.S. mid-Atlantic region expanded in April at a faster clip than expected, a survey showed on Thursday.

The Philadelphia Federal Reserve Bank said its business activity index rose to 16.6 from 9.0 in March, topping economists’ expectations for 10.0, according to a Reuters poll.

Any reading above zero indicates expansion in the region’s manufacturing. The survey covers factories in eastern Pennsylvania, southern New Jersey and Delaware.

New orders rose to 14.8, the highest level since October, from 5.7. The employment component improved to 6.9 from 1.7. Survey respondents’ view on the coming months deteriorated, however, with the gauge of business conditions for the next six months falling to 26.6 from 35.4.

via SOURCE

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza