Philly Manufacturing Index Plunges in January
Philadelphia, PA, Jan. 17, 2013 -- The Philadelphia Fed's manufacturing index fell to -5.8 in January from +4.6 in December.
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Economists expected a 5.0 reading.
The new-orders index fell to -4.3 from 4.9 in December, and the employment index fell to -5.2 from -0.2 in December.