Philly Fed: Regional manufacturing activity continued to expand in November

"Regional manufacturing activity continued to expand in November, according to results from this month’s Manufacturing Business Outlook Survey," the Federal Reserve Bank of Philadelphia said on Thursday.

Key highlights

The diffusion index for current manufacturing activity in the region remained positive but decreased from a reading of 27.9 in October to 22.7 in November.

The index has been positive for 16 consecutive months.

Nearly 35 percent of the firms indicated increases in activity this month, down slightly from October.

The shipments index fell 3 points to 21.7, while the new orders index rose 2 points to 21.4.

The inventories index turned negative, falling 15 points to -8.6.