Manufacturers in the Philadelphia area said business conditions regressed during September, according to a report released Thursday.
The index for current general activity in the Philadelphia Fed’s manufacturing business outlook survey fell to 22.5 from 28.0 in August, the regional bank said. The August reading was the highest since March 2011.
The consensus expectations compiled by various news organizations were for a September reading of somewhere between 23.0 to 24.0.
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