March FHFA House-Price Index Rises 0.1% Vs 0.1% Gain Expected, Prior Revised 0.1% Decline, Up 1.7% Year-Over-Year

May Philadelphia Fed Regional Nonmanufacturing Activity Index Falls Sharply

The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index declined to minus 23.6 in May from minus 16.5 in the previous month, compared with the expectations for an increase to minus 13 in a survey compiled by Bloomberg, indicating more widespread contraction in the sector.The readings for new orders and employment increased in the month, while the sales and prices paid readings decreased.The six-month outlook declined at the regional level, with only 24% of respondents expecting expansion in the region over the next six months compared with 33.6% that look for a decrease.

April Chicago Fed National Activity Index Rises More Than Expected

The Chicago Federal Reserve Bank's monthly National Activity Index rebounded to a reading of 0.14 in April from minus 0.15 in March, compared with expectations for a smaller gain to minus 0.03 in survey of analysts compiled by Bloomberg as of 7:30 am ET.The three-month moving average rose to 0.03 from 0.02.Of the 85 individual indicators, 47 made positive contributions to the index in April, while 38 made negative contributions. Some 44 indicators improved in the month, while 40 indicators deteriorated, and one was unchanged.

May Philadelphia Fed Regional Nonmanufacturing Activity Index -23.6 Vs. -13.0 Expected, -16.5 Prior