Washington, DC, November 16, 2006--Manufacturing activity in the Philadelphia region improved for the first time in three months in November, the Federal Reserve Bank of Philadelphia said Thursday.
The Philadelphia Fed index rose to 5.1 from negative 0.7 in October and negative 0.4 in October.
Economists expected an increase to 5.8.
Readings over zero indicate most firms are reporting better business conditions.
The new orders index fell to negative 3.7 from 13.4. The prices paid index fell to 26.7 from 32.0
