Philadelphia, PA, July 18, 2013 — Manufacturing in the Philadelphia region in July surged to 19.8 from 12.5 in June, marking the highest level since March 2011, according to the Philadelphia Federal Reserve.
Economists expected a 10 reading. The shipments index rose to 14.3 in July from 4.1, while the new orders index fell to 10.2 from 16.6.
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