Philadelphia’s fed index recovers; new orders surge

Manufacturing News, Source : TheManufacturer.com
Published : 22 Nov 2002 21:01

The mid-Atlantic region’s gauge for manufacturing production, Philadelphia’s Federal Reserve index, far exceeded economist’s expectations in November as it rose to 6.1, up from -13.1 in October.

New orders surged to 11.0 from -1.3 in October, and November’s employment index increased significantly to 10.2 compared with October’s -5.1. A gauge for overall US economic health, the Philadelphia index is the first index released each month and is a closely watched telltale of national trends in production.

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