Activity in the mid-Atlantic region's manufacturing sector is picking up in November, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday, with the index of activity in the sector increasing by much more than expected.
The Philly Fed said its index of regional activity in the manufacturing sector rose to 16.7 in November from 11.5 in October, with a positive reading indicating growth in the sector. Economists had been expecting a much more modest increase by the index to 12.2.
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