India, May 21 -- A report released by the Federal Reserve Bank of Philadelphia on Thursday showed regional manufacturing activity unexpectedly weakened in the month of May.
The Philly Fed said its diffusion index for current general activity plummeted to a negative 0.4 in May from a positive 26.7 in April, with a negative reading indicating contraction. Economists had expected the index to pull back to a positive 15.0.
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