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Manufacturing in the Philadelphia Area Grows More Than Forecast
Manufacturing in the Philadelphia region expanded more than projected in October, a sign factories are sustaining the momentum gained prior to the partial federal shutdown that ended today. The Federal Reserve Bank of Philadelphia’s general economic index fell to 19.8 this month from a more than two-year high of 22.3 in September. Readings greater than zero signal growth in the area, which covers eastern Pennsylvania, southern New Jersey and Delaware. The median forecast of 56 economists surveyed by Bloomberg called for a reading of 15. While uncertainty stemming from budget and debt ceiling debates in Washington ... (full story)
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