US DATA: May Philly Fed data show prices 48.3, new orders 5.4 vs 18.8,
employment 22.1 vs 12.3. Text: “Responses to the Business Outlook Survey
suggest that regional manufacturing activity grew slightly in May.
Nearly all of the survey’s broadest indicators remained positive but
fell from their readings in the previous month. The current employment
index, however, showed resilience and improved this month. Indicators
for prices fell back somewhat from their relatively high readings of
recent months but still suggest considerable price pressure. The
survey’s indicators of future activity fell sharply this month,
reflecting consensus about future growth.”