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Philadelphia Fed Manufacturing Index Soars to 41.4 in July — Fastest Expansion in Five Years as New Orders Jump to 37.0

The Philadelphia Fed Manufacturing Index surged to 41.4 in July 2026 from 10.3 in June, massively beating the consensus estimate of 13 and marking the fastest expansion in regional factory activity since November 2021. New orders jumped to 37.0 and shipments climbed to 33.7, their strongest readings in over four years. The blockbuster print, released alongside jobless claims of 208,000 and in-line retail sales of 0.2%, reinforces the case for a resilient US economy despite elevated interest rates.