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Philadelphia Fed non-manufacturing index snaps back to 7.4, first positive reading since October 2024

Crypto Briefing 2026-07-21 12:52:13
Context: The Philadelphia Fed's non-manufacturing index experienced a significant rebound in July, marking a turnaround from the previous month's decline. This upswing brought the index to a positive reading for the first time since October 2024. The sudden change indicates a notable shift in the sector's performance.

Key Facts

  • The Philadelphia Fed non-manufacturing index surged to 7.4 in July from -25.8 in June, representing a substantial increase of 33.2 points between the two months.
  • This July reading of 7.4 marks the first positive value for the index since October 2024, when it last showed a positive reading.
  • The index's turnaround from -25.8 in June to 7.4 in July signifies a rapid shift in the non-manufacturing sector's economic conditions within the Philadelphia region.
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