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Philly Fed Nonmanufacturing Index Drops to 39.1 in August

The Federal Reserve Bank of Philadelphia’s business activity index declined to 39.1 in August from 53.8 in July.

Further details of the publication showed that the Firm-level Business Activity Index declined to 37.2 from 44.8 and the Full-time Employment Index declined to 8.2 from 24.8.

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