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Philly-Fed up at 19.8

By BFN News | 03:04 PM | Thursday 18 July, 2013

The Federal Reserve Bank of Philadelphia's diffusion index of current activity, increased from 12.5 in June to 19.8, its highest reading since March 2011. The percentage of firms reporting increased activity this month (37%) was greater than the percentage reporting decreased activity (17%). Other current indicators suggest continued growth this month. The shipments index increased notably, from 4.1 in June to 14.3. The demand for manufactured goods as measured by the current new orders index remained positive, although it fell back 6 points to 10.2. Firms reported a drawdown of inventories this month: The inventory index fell 15 points, from -6.6 to -21.6. Story provided by

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