MW: Philly Fed factory index jumps to 22.5 in Nov.
By Greg Robb
WASHINGTON (MarketWatch) -The index of manufacturing activity in the Philadelphia region surged in November to its highest level in almost a year, the Federal Reserve Bank of Philadelphia reported Thursday. The Philly Fed diffusion index rose to 22.5 in November from 1.0 in October. The increase was must stronger than expected. Economists polled by MarketWatch were expecting the index to rise to 5.0. The index is the highest since December 2009. Indexes for new orders and shipments improved markedly in the month. The index for employment increased 11 points. Price increases were widespread again in November.
