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US Fed branch reports increase in Philadelphia manufacturing index

WASHINGTON -- Manufacturing in the Philadelphia region expanded in October following five months of declines, a positive sign for a U.S. manufacturing sector which had been weakening for much of the year.

The Federal Reserve Bank of Philadelphia reported Thursday that its index of regional manufacturing activity had a reading of 5.7 in October following a -1.9 reading in September. Any reading above zero indicates expansion. The survey covers manufacturing companies in Pennsylvania, New Jersey and Delaware.

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