08:48 AM EDT, 07/22/2025 (MT Newswires) -- The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index rose to minus 10.3 in July from minus 25.0 in the previous month, indicating a slower pace of contraction in the sector.

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

The six-month outlooks at the regional level increased, but decreased at the firm level, with 31.9% of respondents expecting expansion in the region over the next six months compared with 35.8% that expect contraction.