2/16/2012 11:45:00 AM
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Manufacturing activity in the Philadelphia region expanded at a faster pace in January, reaching a four-month high, the Federal Reserve Bank of Philadelphia said Thursday.
The regionâ€™s factory index rose to a reading of 10.2, from 7.3 in January. Readings greater than zero indicate expansion.
The index was higher economistsâ€™ forecasts of a 9 reading, Bloomberg reported.
The Philadelphia Fed surveys about 100 manufacturers for the index in eastern Pennsylvania, Delaware, and southern New Jersey.
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