08:37 AM EDT, 04/21/2026 (MT Newswires) -- The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index rose to minus 16.5 in April from minus 23.9 in the previous month, compared with expectations for a small increase to a minus 19.8 reading in a survey compiled by Bloomberg as of 7:35 am ET, indicating a slower pace of contraction in the sector.

The readings for new orders and sales declined, but the readings for employment and prices paid increased.

The six-month outlook at regional level improved, with 35% of respondents expecting expansion in the region over the next six months compared with only 28.4% that expect contraction.