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Enviado: 16/10/2003 17:12Factory activity surges in Philadelphia region in Oct. (12:05pm
WASHINGTON (CBS.MW) -- Factory activity "improved notably" in the Philadelphia region in October, the Federal Reserve Bank of Philadelphia said Thursday.
The business activity index rose to 28.0 in October from 14.6 in September, well ahead of the 15.8 expected.
Positive readings indicate a majority of firms in the region said conditions were improving.
The new orders index jumped to an eight-year high of 29.0, while shipments rose to 28.8, the highest since late 1999.
The employment index rose to 5.5, the highest in five years.
WASHINGTON (CBS.MW) -- Factory activity "improved notably" in the Philadelphia region in October, the Federal Reserve Bank of Philadelphia said Thursday.
The business activity index rose to 28.0 in October from 14.6 in September, well ahead of the 15.8 expected.
Positive readings indicate a majority of firms in the region said conditions were improving.
The new orders index jumped to an eight-year high of 29.0, while shipments rose to 28.8, the highest since late 1999.
The employment index rose to 5.5, the highest in five years.