Manufacturing activity in the Federal Reserve Bank of Philadelphia’s region “showed continued weakness this month,” although the general business conditions index narrowed to negative 15.6 in May from negative 24.9 in April, this month’s Report on Business indicates.

Economists surveyed by IFR Markets predicted a reading of negative 20.0 for the index.

The six months from now general business conditions index improved to positive 28.2 from positive 13.7 in last month’s survey.

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