US Philly Fed Manufacturing Index

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Optimism among the region’s manufacturing executives improved notably in October, when the Philadelphia Fed manufacturing index increased by 1.0 in from -0.7 in September, indicating expansion for the first time in three months. The new orders index improved to -5.0 from September’s -8.1, suggesting new orders contracted for a fourth consecutive month in October but at a slower pace. Employment expanded for a second month, with the employment index rising to 2.4 in October from 1.8 in September. A generous rise to 5.1 is expected now.