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Philly Fed factory index slips to 19.3 in Jan.

Philly Fed factory index slips to 19.3 in Jan. (by Greg Robb)

WASHINGTON (MarketWatch) -The index of manufacturing activity in the Philadelphia region dipped slightly in January, the Federal Reserve Bank of Philadelphia reported Thursday. The Philly Fed business condition index fell to 19.3 in January from 20.8 in December. The decline was a bit weaker than expected. Below the headline, the report had some strong signals. The index for new orders jumped to 23.6 in January from 10.6 in December. The index for employment also jumped to 17.6 from 4.3 in the prior month.