Manfucturing in the Philadelphia Federal Region expanded to 12.5 in March, from 10.2 in the prior month, beating median estimates of 12.0.

The unexpected rise in busines activites were on the back of an unexpected gain the inventories and number of employees, rising to 0.9 from -12.9, and to 36.8 from 1.1, respectively.

Otherwise, prices paid fell to 18.7 from 38.7, while prices received declined to 8.4 from 15.0. new orders decreased to 33 from 11.7, shipments also dropped tp 3.6 from 15.0.