Philadelphia Fed Says Manufacturing Slowed

Philadelphia, PA, Nov. 21, 2013 -- The Philadelphia Fed's manufacturing index slowed to a reading of 6.5 in November from 19.8 in October.

Economists expected a reading of 15.

The new orders index fell to 11.8 from 27.5 in October, and the shipments index fell to 5.6 from 20.4.

The employees index plunged to 1.1 from 15.4 last month. The workweek index declined to -8.6 from 8.5.

The expectations index for business conditions over the next six months dropped to 45.8 from 60.8.

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