ECONODAY: After popping higher in March the Philly Fed index has been dead flat since, at minus 1.6 in April and now minus 1.8 for May to point to slight contraction in the Mid-Atlantic manufacturing sector. After jumping to 15.7 in March, new orders posted a zero in April followed now by minus 1.9 in May. And contraction in unfilled orders is deepening, at minus 8.8 vs minus 6.3 and minus 1.9 in the prior two months. Employment remains in contraction at minus 3.3 with the workweek also in contraction and at a steep minus 15.1....
