Manufacturing index jumps this month
Thursday, July 18, 2013 3:44 PM
The Federal Reserve Bank of Philadelphia said today that its manufacturing survey in July surged to 19.8 from 12.5 in June, marking the index's highest level since March 2011, MarketWatch reported. Economists polled by MarketWatch expected a 10 reading. The shipments index rose to 14.3 in July from 4.1, though the new orders index softened to 10.2 from 16.6, MarketWatch said.The data follows figures this week that showed an increase in production across the country, with manufacturing in the New York area expanding in July at the fastest pace in five months, Bloomberg reported.