Philly Fed Survey Shows Activity Continued To Weaken In October

The Philadelphia Fed manufacturing index stayed negative for the second straight month in October, rising only slightly to a reading of negative 4.5 in October from negative 6.0 in September. That's below the MarketWatch-compiled economist forecast for a reading of negative 1.0, on an index where any reading below zero indicates deteriorating conditions. New orders also fell into negative territory for the first time since May 2013.

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