Economy

Philly Fed business index worse than expected

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An employee assembles light louvers at the Mobern Lighting manufacturing facility in Jessup, Maryland.
Andrew Harrer | Bloomberg | Getty Images

The Philadelphia Federal Reserve's Business index for December came in below expectations, the bank said Thursday.

The index came in at -5.9, reflecting a fall from the November number of 1.9, and below the expected gain of 1.0.

A company representative speaks with a job seeker during a Job Fair Giant career fair in Sterling Heights, Michigan.
US weekly jobless claims total 271,000 vs 275,000 estimate