Philadelphia Manufacturing Expands for Fourth Month
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Manufacturing in the Philadelphia region expanded in January for a fourth month as orders grew the most since September 2004 and employment picked up.
The Federal Reserve Bank of Philadelphia’s general economic index slipped to 19.3 from 20.8 last month. The gauge was forecast to hold at 20.8, 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.