Federal Reserve Bank of Philadelphia

Philly Fed Index Hits a High
for This Year

Manufacturing activity in the mid-Atlantic region unexpectedly surged in November, the Federal Reserve Bank of Philadelphia reported Thursday. The Philly Fed's Business Outlook Survey index jumped to 22.5 in November from 1 in October, it's highest reading since December 2009.

Philly Fed Index Shows Manufacturing Growing Slightly

Manufacturing activity in the mid-Atlantic region showed modest improvement in October, according to the Federal Reserve Bank of Philadelphia, which saw its Business Outlook Survey rise to 1.0. However, despite that return to positive territory overall, key index components continued to reveal economic softness.