Philadelphia Fed index turns negative in November (by Steve Goldstein)

WASHINGTON (MarketWatch) -- The Philadelphia Fed's November manufacturing survey turned negative in November, dropping to negative 10.7 from +5.7 in October. Economists polled by MarketWatch had forecast a +3.0 reading. The Philly Fed blamed the disruptive effects of Hurricane Sandy on the region. Nearly 32% of firms reported declines in activity this month, while 21% reported increases.