Philly Fed manufacturing gauge rebounds in July
The numbers: The Philadelphia Fed said Thursday its gauge of business activity in its region rebounded strongly in July after hitting its lowest level in four months in June.
Any reading above zero indicates improving conditions. Economists polled by Econoday expected a 4.5 reading. Manufacturing has hit a rough patch this year, with the impact of international trade policy tensions and a strong U.S. dollar holding down activity. Industrial production has declined for two straight quarters, according to figures released Tuesday.
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