U.S. Philadelphia Fed Factory Index Improves to -1.7 in November
The regional manufacturing gauge showed notable recovery from October’s -12.8 but remained in contraction territory, missing economists’ forecast of +1.0.
Summary
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Terms & Concepts
Philadelphia Fed Factory Index: A regional manufacturing survey by the Federal Reserve Bank of Philadelphia, indicating economic conditions in the Mid-Atlantic U.S.
Contraction Territory: An economic condition where an index value is below zero, signaling a decline in business activity.