Smile. Manufacturing in the Philadelphia area unexpectedly expanded in October at the fastest pace in six months, signaling factories are helping support a U.S. economy weighed down by weakness in the housing and labor markets, the good people at Bloomber report.
The Federal Reserve Bank of Philadelphia’s general economic index increased to 8.7 from minus 17.5 last month, the biggest one-month rebound in 31 years. Readings greater than zero indicate expansion in the area covering eastern Pennsylvania, southern New Jersey and Delaware....
Find out more at http://www.bloomberg.com/news/2011-10-20/philadelphia-area-manufacturing-index-unexpectedly-rises-to-8-7-in-october.html
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