The Philadelphia region’s manufacturing sector continued to expand at a quicker pace in February as the general business conditions index jumped to 35.9 from 19.3 in January, according to this month’s Federal Reserve Bank of Philadelphia Report on Business.
Economists had predicted a reading of 21.0.
The prices paid index was 67.2, up from 54.3 last month, the new orders index crept up to 23.7 from 23.6, and shipments grew to 35.2 from 13.4.