Philly Fed Manufacturing Activity Index edges down to 22.2 in October vs 20 expected

"Regional manufacturing activity continued to grow in October, according to results from this month’s Manufacturing Business Outlook Survey," the Federal Reserve Bank of Philadelphia reported on Thursday.

Key takeaways from the press release

• The diffusion index for current general activity edged down slightly, from 22.9 in September to 22.2 this month.
• Nearly 36 percent of the manufacturers reported increases in overall activity this month, while 14 percent reported decreases.
• The new orders index decreased 2 points to 19.3, while the current shipments index increased 5 points to 24.5. 
• More than 30 percent of the responding firms reported increases in employment this month, while 11 percent of the firms reported decreases in employment.