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12:01pm 03/18/04 U.S. MARCH PHILLY FED NEW ORDERS 21.9 VS. 27.8 IN FEB.
12:00pm 03/18/04 U.S. MARCH PHILLY FED 24.2 VS 31.4 IN FEB.
12:01pm 03/18/04 U.S. MARCH PHILLY FED INDEX BELOW CONSENSUS 30.1
12:04pm 03/18/04 U.S. MARCH PHILLY FED PRICES PAID HIGHEST SINCE JULY 95

Philly manufacturing expands at slower pace in March
WASHINGTON (CBS.MW) -- Manufacturing in the Philadelphia region expanded at a slower pace in March, the Federal Reserve Bank of Philadelphia reported Thursday.
The Philly Fed's activity index fell to 24.2 from 31.4 in February.
Despite the drop, this is the tenth month in a row the index has been above zero, which indicates expansion.
The drop was worse than expected. Economists were expecting the index to fall to 30.1, according to a Marketwatch survey.
The new orders index fell to 21.9 from 27.8 in the previous month.
The employment index fell slightly to 12.3 from 12.5 in February.
The prices paid index rose to 53.4, the highest level since July 1995.

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12:00pm 03/18/04 U.S. MARCH PHILLY FED 24.2 VS 31.4 IN FEB. VS FORECAST OF 29.00 FROM BLOOMBERG SURVEY