Philadelphia Manufacturing Expands by Most Since 2005
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Manufacturing in the Philadelphia region expanded in December at the fastest pace since April 2005 as orders and the factory workweek increased.
The Federal Reserve Bank of Philadelphia’s general economic index unexpectedly rose to 24.3 from 22.5 last month. The gauge was forecast to decrease to 15, according to the median estimate in a Bloomberg News survey. Readings greater than zero signal expansion in the area covering eastern Pennsylvania, southern New Jersey and Delaware.