August Philly Fed Index Unexpectedly Plummets, Worst Read Since July 2009
August 19, 2010 at 12:00 PM EDT
Federal Reserve Bank of Philadelphia’s general economic index unexpectedly contracted in August to its lowest level in more than a year. The index dropped to a negative 7.7 in August from positive 5.1 in July. All of the subindexes that make up the general business activity indicator showed contraction except for prices paid, [...]