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PHILADELPHIA, Nov. 19 (UPI) -- The Philadelphia Federal Reserve Bank said new manufacturing orders and shipments improved in the mid-Atlantic region, the most recent survey indicates.
General business activity also increased in the month although the monthly survey's employment index was "mostly steady" October to November.
The survey of businesses is taken in the first half of each month.
The Philadelphia Fed said Thursday its headline manufacturing index increased from 11.5 a month ago to 16.7.
Twenty-nine percent of the businesses responding to the survey indicated business activity had increased in the month, while 12 percent indicated business had declined.
The new orders index increased nine points, holding in positive territory for the fourth consecutive month. The current shipments index rose 12 points, while the employment index rose six points from minus 6.8.
In general, "manufacturing conditions are improving ... (but) future indicators suggest that optimism has waned somewhat in recent months," the Philadelphia Fed said.
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