After reporting a continued slowdown in the pace of growth in regional manufacturing activity in the previous month, the Federal Reserve Bank of Philadelphia released a report on Thursday showing growth accelerated by more than anticipated in the month of November.
The Philly Fed said its diffusion index for current general activity climbed to 10.4 in November after falling to 5.6 in October, with a positive reading indicating growth in regional manufacturing activity. Economists had expected the index to rise to 7.0.
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