Philly Fed Index Drops To 11.5 From 14.1 in September

The region’s manufacturing sector continued to show signs of growth, although the general business conditions index decreased to 11.5 in October from 14.1 in September, according to this month’s Federal Reserve Bank of Philadelphia Report on Business, released yesterday.

Economists surveyed by Thomson ­Reuters predicted a reading of 12.0.

The prices paid index was 21.3 compared to 14.9 in September, the new orders index rose to 6.2 from 3.3, shipments dropped to 3.3 from 8.2, and the unfilled orders index increased to negative 1.3 from ­negative 7.4.

The general business conditions index for six months from now dropped to 39.8 from 47.8 in last month’s survey.

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