Philly Fed: Manufacturing firms reported continued growth in October

Eren Sengezer FXStreet

"Manufacturing firms reported continued growth in regional manufacturing in October," the Federal Reserve Bank of Philadelphia reported on Thursday.

Key highlights:

The index for current manufacturing activity in the region increased 4 points to a reading of 27.9 and is now at its highest reading since May.
More than 39 percent of the firms indicated increases in activity this month, while 11 percent reported decreases.
Both the new orders and shipments indexes remained positive but fell this month, decreasing 10 points and 13 points, respectively.
Both the unfilled orders and delivery times indexes were positive for the 12th consecutive month, suggesting longer delivery times and an increase in unfilled orders.
The current employment index increased 24 points to a record high reading of 30.6.
The average workweek index also increased 8 points, its highest reading in four months.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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