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Philly Fed manufacturing crushes expectations

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Liberty Bell

iStock / Songquan Deng

The Philadelphia Federal Reserve’s manufacturing outlook rocketed past expectations.

The index came in at 23.6 for the month. Economists expected the measure of mid-Atlantic manufacturing activity to slide slightly in January to 15.8.

The December reading, which had jumped from 7.6 in November, was revised down slightly to 19.7.

It appears the enthusiasm has still not cooled off.

 

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