Forex News: Philadelphia Fed Index comes out better than expected but still weak

                                 May   April
                                 2008   2008
======================
Philly index                 -15.6  -24.9
----------------------------------
Prices Paid                   53.8   51.6
Prices Received             31.6   30.9
New Orders                   -3.7  -18.8
Shipments                    2.2   -8.0
Unfilled Orders            -19.1  -16.8
Delivery Time              -12.8    4.2
Inventories                 -13.1  -26.2
Number of Employees    -1.0  -11.1