MW: Philly Fed joins Empire State manufacturing index in negative territory
WASHINGTON (MarketWatch) -- The Philadelphia Fed manufacturing index took a surprise turn into negative territory in September, falling to negative 6 from positive 8.3 in August. Economists polled by MarketWatch expected a reading of 5, on a scale where any number below zero indicates contracting activity. Evidence suggests that the responses regarding general activity that were received earlier in the month may have been negatively affected by the volatility in the stock market and international news reports, the Philadelphia Fed said. The Empire State manufacturing index was negative 14.7 for September.
