Philly Fed Manufacturing "Picked Up"; NY Fed Manufacturing "Increased Modestly" in October

Note: Be careful with diffusion indexes. This shows a rebound off the bottom - some improvement from May to October - but doesn't show the level of activity. From the Philly Fed: October 2020 Manufacturing Business Outlook Survey Manufacturing activity in the region picked up this month, according to firms responding to the October Manufacturing Business Outlook Survey. The survey's current indicators for general activity, new orders, and shipments all showed notable improvement. Most future indexes increased and continue to reflect optimism among firms about growth over the next six months.......(read more)

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