Manufacturing report at 6-year low

Survey from the Federal Reserve Bank of Philadelphia is weakest since just after the 9/11 attacks.

Manufacturing activity in the Philadelphia area this month reached its lowest level since October 2001, a month after the 9/11 terrorist attacks, according to a report issued Thursday.

The Federal Reserve Bank of Philadelphia's Business Outlook Survey index weakened to -20.9 in January from -1.6 last month, the bank said.

Demand for manufactured goods, indicated by the number of new orders, reached its first negative level in 15 months, the bank said. The number of shipments also declined in the report.

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