Thursday morning saw the Philadelphia Federal Reserve's latest manufacturing business outlook survey smash expectations. The report's headline index came in at 40.8, blowing away last month's 20.7 reading and far exceeding expectations for a reading of 18.5. This reading also marked the highest level for the index since December 1993. But some economists aren't sold on the jump. In a note following the report, Paul Dales, senior US economist said, "We're finding it hard to take the leap in the [Philly Fed index]...seriously when other surveys have eased, when overseas demand has softened, and when the dollar has ... (full story)