Philly Fed index slips slightly in August

Manufacturing activity in the US slowed slightly last month, the results of a closely-followed survey showed.

The Federal Reserve Bank of Philadelphia's regional factory sector index slipped from a reading of 24.1 points for July to 17.2 in August (consensus: 20.0).

A sub-index tracking new orders meanwhile decreased from 23.0 to 19.0, while another tied to employment fell from 20.1 to 9.0.

Price pressures on the other hand were little changed with the corresponding sub-index at 15.3, down from 15.7.