Reply #76: Philly Fed report @ 15.4 - employment sector drops to 11.3 (from 11.7) [View All]

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http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-02-16T170741Z_01_N16434877_RTRIDST_0_ECONOMY-PHILLYFED-URGENT.XML

NEW YORK, Feb 16 (Reuters) - Factory activity in the U.S. Mid-Atlantic region recovered strongly in February to the strongest level since the summer as new orders firmed and price pressures moderated, a survey released on Thursday showed.

The Philadelphia Federal Reserve Bank said its business activity index jumped to 15.4 in February from a weak 3.3 reading in January, beating Wall Street forecasts for a rise to 9.0. It was the highest reading since August last year.

Any reading above zero indicates growth in the region's manufacturing sector.

The new orders index, a gauge of future growth, rose to 12.5 in February from 11.1 in January, while the jobs component slipped to 11.3 from 11.7.

A measure of prices paid by manufacturers dropped to 30.5 from 44.9 the month before as energy prices eased.

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