HomeLatest NewsEconomic Report: Philly Fed manufacturing index retreats to still solid 23.8 in October

Economic Report: Philly Fed manufacturing index retreats to still solid 23.8 in October

The numbers: The Philadelphia Fed said Thursday its gauge of regional business activity fell to 23.8 in October from 30.7 in the prior month. Any reading above zero indicates improving conditions. Economists polled by the Wall Street Journal expected a 24.5 reading. The index had jumped sharply in September and so a pullback was expected. Any reading above zero indicates expansion in the manufacturing sector.

Big picture: A reading of 23.8 is in solid growth territory.

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