08:42 AM EDT, 07/21/2026 (MT Newswires) -- The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index rose to 7.4 in July from minus 25.8 in the previous month, indicating expansion in the sector.

This is the first positive reading for the index since October 2024.

The readings for new orders, sales, prices and employment all increased in the month.

The six-month outlooks at both the regional and firm levels increased, with 28.4% of respondents expecting expansion in the region over the next six months, compared with 12.6% that expect contraction.