Philly area manufacturing activity rises in October at slower pace

Manufacturing activity in Philadelphia-area advanced in the month of October, although the rate of growth slowed down, a data published by the Federal Reserve of Philadelphia revealed on Thursday. According to the data, the index of current activity in the area slipped from a level of 22.3 recorded in September to 19.8 in the following month, while it was forecast to dip to 15.0 points.