Philly manufacturing activity recovers in Oct

[Pirate Smile]

Source: Marketwatch

WASHINGTON (MarketWatch) - Manufacturing in the Philadelphia region showed signs of recovery in October, the Federal Reserve Bank of Philadelphia reported Thursday. The Philly Fed diffusion index rose to 8.7 in October from negative 17.5 in September. This is the first positive reading in three months. Readings above zero indicate expansion. The increase was much larger than expected. Economists were expecting the index to improve only to negative 10.0. Underneath the headline, labor market conditions improved only slightly. The Philadelphia index has been weaker than the national data for the past two months. The Institute for Supply Management reported that its key reading of the health of the manufacturing sector rose to 51.6 in September from 50.6 in August.


Read more: http://www.marketwatch.com/story/philly-manufacturing-activity-recovers-in-oct-2011-10-20

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Edit to add some more context from another article:

"Philly Fed Survey SMASHES Expectations

The Philly Fed Index survey just smashed expectations.

Analysts had expected a decline of -9.4 in the survey, but instead we got +8.7.

New orders were also very strong.

The most important point is that things even in October are showing signs of life,confirming that things have gotten better since the August-September doldrums.


Read more: http://www.businessinsider.com/philly-fed-index-and-existing-home-sales-2011-10#ixzz1bKdm9bJ2

[WI_DEM]

1. Good news that hopefully will continue.

[closeupready]

2. K&R

nt

[DainBramaged]

3. Cream cheese production is up?

:donut:

[msanthrope]

4. Pretzels, Cheesesteaks, Tastykakes, Scrapple, and Pork Roll. All up. nt

[DainBramaged]

5. Taylor ham, YUM, NJ's finest (but it is from the Philly area)

[msanthrope]

7. My mouth is watering. nt

[entropic]

6. Philadelphia Cream Cheese has nothing to do with Philly though

you will know us by our Tastykakes.

[DainBramaged]

8. Too much sugar make my teeth hurt

Drakes wins....