The headline index for a survey of manufacturers in the Philadelphia area improved significantly in November, according to a report released Thursday.
The index for current general activity in the Philadelphia Fed’s manufacturing business outlook survey jumped to 40.8 from 20.7 in October, the regional bank said. The reading was the highest since December 1993. It has now been positive for nine months in a row.
The consensus expectations compiled by various news organizations were for a November reading of somewhere around 18.0 to 18.5.
