The annual revisions to the Federal Reserve Bank of Philadelphia’s Manufacturing Business Outlook Survey changed numbers for most months, but the pattern remained the same, the Bank said Thursday.

The revisions are based on recalculation of seasonal adjustment factors.

“While this year's revisions altered levels of the indexes for most months, the general pattern of month-to-month change in most series was similar,” the Bank said in a release.

The current activity index for November 2017 was revised to 24.3 from the previously reported reading of 22.7, while December was revised from 26.2 to 27.9.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.