Manufacturing activity in Philadelphia in April has been the strongest since April 2022, the latest data showed.
The Philadelphia Fed Manufacturing Index was reported at a reading of 15.5 in April, up from 3.2 in March.
The latest figure was well above a consensus of analyst estimates of 1.5.
The April reading has been the third consecutive positive one, as the gauges of new orders (12.2 versus 5.4 in March) and shipments (19.1 versus 11.4 in March) rose.
Businesses continued to indicate an overall decrease in employment (-10.7 versus -9.6 in March), while the current price indexes suggested overall increase in prices.
The US Dollar Index, which reflects the relative strength of the greenback against a basket of six other major currencies, settled 0.08% lower at 106.117 on Friday.
The index has pulled back from a 24-week high of 106.517, which it registered on April 16th.
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