Philadelphia Manufacturing Surges, New York Strong on Optimism.

The Federal Reserve Bank of Philadelphia's general activity index surged to 50.2 -- the highest since April 1973 -- from a revised 44.5 in March, according to a report Thursday. Price Pressures Companies continue to report price pressures from purchased inputs, according to the report. Growth at manufacturers in the Philadelphia region and New York state and rebounded in April, reflecting stronger orders and increased shipments as the economy continues its recovery from the Covid-19 pandemic. [Extracted from the article]