Philadelphia Fed’s manufacturing gauge remains deep in contraction territory in March


The numbers: The Philadelphia Fed said Thursday its gauge of regional business activity inched up to negative 23.2 in March from negative 24.3 in the prior month. Any reading below zero indicates deteriorating conditions. This is the seventh straight negative reading and the ninth in the last ten months.

Key details: Broad indicators in the data were all negative in March. The barometer on new orders sank to negative 28.2 in March from negative 13.6 in the prior month. The shipments index sank to negative 25.4 from 8. The…

Las Vegas News Magazine

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