More good economic news portending jobs improvement
CNN reports: ‘Factories in mid-Atlantic area took off in October.”
Manufacturing activity in mid-Atlantic region up significantly “as firms hired new workers, the latest sign that factories may have finally worked their way out of a two-year slump.”
Philadelphia Federal Reserve’s monthly gauge of regional industry doubled to 28.0 in October from 14.6 in September.
New orders up to 29.0, highest in eight years, from 19.3 in September.
Employment index up to three-year high of 5.5 from -4.7 in September.
This is really good because it involves manufacturing and jobs, the two weakest indicators in the much-ballyhooed weak economy. Hopefully, this is not just a regional phenomenon, but typical of data that will be rolling in from other Fed regions.
