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Partly reflecting faster new orders and shipments growth, the Federal Reserve Bank of Philadelphia released a report on Thursday showing a significant acceleration in the pace of growth in regional manufacturing activity in the month of September.
The Philly Fed said its index for current general activity jumped to 22.9 in September after tumbling to 11.9 in August, with a positive reading indication growth in regional manufacturing activity. Economists had expected the index to climb to 17.0.
