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Thursday, November 16, 2006

11/16/06 - Archive -Philadelphia Fed Factory Index Climbs in First Expansion in Three Months

HEADLINE:
STORY:
Manufacturing in the Philadelphia region expanded for the first time in three months in November as costs eased and shipments rose.
The Federal Reserve Bank of Philadelphia's general economic index rose to 5.1 this month from minus 0.7 in October, which was the lowest since April 2003. Readings below zero signal a contraction. The index has averaged 9.4 in the past year.......
...... prove to be a boon to consumers and also to the manufacturing sector,'' Stephen Stanley, chief economist at RBS Greenwich Capital Markets in Greenwich, Connecticut, said before the report. "As consumer spending picks up, manufacturing will .......
Source: Bloomberg
Publication Date: November 16, 2007
Reporter: Bob Willis bwillis@bloomberg.net

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