Philadelphia Factory Index Rises to Highest This Year
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Manufacturing in the Philadelphia region expanded in November at the fastest pace this year as orders, sales and employment surged, indicating U.S. and overseas demand will keep fueling growth.
The Federal Reserve Bank of Philadelphia’s general economic index jumped to 22.5, exceeding the most optimistic forecast in a Bloomberg News survey, from 1 a month earlier. Readings greater than zero signal expansion in the area covering eastern Pennsylvania, southern New Jersey and Delaware.