Business activity in U.S. Mid-Atlantic region increased in January to its strongest level in over two years due to a pickup in new orders and employment and an improved six-month outlook, the Philadelphia Federal Reserve said on Thursday.
The regional central bank’s business condition gauge rose to 23.6 last month, which was the highest since November 2014 when it was 34.8. The December reading was revised down to 19.7 from an earlier 21.5.
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