Philly-Fed index falls to -10.7
By BFN News | 03:07 PM | Thursday 15 November, 2012
The Federal Reserve Bank of Philadelphia's broadest measure of manufacturing conditions, the diffusion index of current activity, decreased 16 points, to a reading of �€?10.7.
The fallback of the general activity index followed a single positive reading in October that was preceded by five negative monthly readings.
Nearly 32% of firms reported declines in activity this month, while 21% reported increases. The demand for manufactured goods, as measured by the current new orders index, declined 4 points from last month and remains in negative territory.
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