Philadelphia Fed Oct. index plunges

US - The Federal Reserve Bank of Philadelphia's business outlook survey for October indicated the regional economy reversed following the 11 September terror attacks.

The Fed said its business current activity index slumped to negative 27.4 in October from negative 7.3 in September, although respondents expect the economy to be moving forward in the next six months.

Economists polled by IFR BondData America expected the index to fall to negative 10.0 in October.

In October new orders, shipments,

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