Philly Fed Eases in May After Strong April

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The Federal Reserve Bank of Philadelphia’s State Coincident Indexes declined modestly in May, as the three-month diffusion index fell to 84 from 96 in April, with four states, Alabama, Connecticut, Kentucky and Hawaii posting index declines. The indexes of the remaining 46 states increased over the three month period. Delaware, Idaho, Massachusetts, and South Carolina posted the strongest three-month index gains in the month. The exhibit below is reproduced from the press release.



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