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(Reuters) - Factory activity in the U.S. mid-Atlantic region slowed down in May after hitting its highest pace in nearly half a century earlier this spring, a survey showed on Thursday.
The Philadelphia Federal Reserve Bank said its business activity index fell to 31.5 from 50.2 in April. That was shy of economists’ expectations for a reading of 43.0, according to a Reuters poll.
Any reading above zero indicates expansion in the region’s manufacturing. The survey covers factories in eastern Pennsylvania, southern New Jersey and Delaware.
It is seen as one of the first monthly indicators of the health of U.S. manufacturing leading up to the national report by the Institute for Supply Management, next due out June 1.
Will the second Covid wave dent resilient foreign investment inflows into India?
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Will the second Covid wave dent resilient foreign investment inflows into India?By Sanket Mohapatra and Sushil Thaker, ET CONTRIBUTORS
Last Updated: May 20, 2021, 02:05 PM IST
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Synopsis
With the onset of COVID-19 in the first quarter of 2020, there was a sharp withdrawal of portfolio capital that was offset by FDI inflows. FDI inflows have been a relatively stable source of external financing over the years in comparison to volatile portfolio flows.
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In spite of the COVID-19 pandemic, a two-month long nationwide lockdown and a large GDP contraction in 2020, foreign capital flows to India remained surprisingly resilient. Data from IMF’s Balance of Payments statistics for the calendar year (CY) 2020 reveals that India received about $80 billion in foreign direct investment (FDI) and foreign portfolio investment (FPI) inflows, ranking behind China but higher than Russia,
World stocks generally up but cryptos still under pressure
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Most Read World stocks generally up but cryptos still under pressure Cryptocurrencies bounce back slightly after their crash earlier in the week, as the dollar stalls on talk of support tapering off 20 May 2021 - 11:56 Marc Jones A worker shelters from the rain under a Union Flag umbrella as he passes the London Stock Exchange in London, Britain, in this October 1 2008 file photo. REUTERS/TOBY MELVILLE
London Europe’s stock markets saw a tentative rebound on Thursday and bitcoin bounced more than 10% after one of its spectacular smashes, though tapering talk from the US Federal Reserve kept bond markets under pressure.
Read more about Federal Reserve officials signal open to taper talk at upcoming meetings on Business Standard. US Treasuries declined on heavy futures volumes after the minutes were published
By Reuters Staff
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FILE PHOTO: The Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 27, 2019. REUTERS/Brendan McDermid/File Photo
(Reuters) - About two-thirds of U.S. banks are either already taking measures to limit the growth in their balance sheets or would take steps to cap them if they continue growing, a Federal Reserve survey of bank finance officers showed on Thursday.
The concerns about the size of their balance sheets reflected in the Senior Financial Officer Survey came as 40% of respondent banks reported faster-than-expected growth in end-of-day reserve balances. The largest factor driving that growth was deposits, which broadly are growing faster than bank officials had estimated.