(Philadelphia Fed) The diffusion index, gauging the current general activity in manufacturing in the US, fell by 10 points to 17.6, erasing most of the gains it made in March.
At least 34% of firms said the current activity improved in April, compared to 17%, which reported declines.
The new orders index fell by 8 points to 17.8, while the current shipments gauge edged lower by 11 points to 19.1.
The employment index climbed higher to 41.4 after hitting a record high in March. The average workweek gauge went down to 20.8 from 21.4 in March.
Cost increases were posted across the board, with the prices paid index rising by 4 points to 84.6, the highest since June 1979. The prices received index rose from 54.5 to 55.0 in April.
The diffusion index for future general activity fell by 15 points to 8.2, which was the lowest reading since December 2008.
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