From the Philly Fed report:
The Philadelphia Fed's new orders and employment indexes showed a mixed picture. The November new orders index jumped to 11.0 from -1.3 the prior month. Meanwhile, the employment index continued to mirror the soggy national employment situation, and indicated further job losses at a reading of -0.2. Still, it was better than the -5.1 reported in October.
Meanwhile, price pressures seen by Philadelphia manufacturers continued to mount. That marks a similar trend seen in other regional and national manufacturing indexes, although those price increases are still failing to translate into pressure in the government's major inflation indexes.
The Philadelphia Fed's prices paid index stood at 13.0 for the month versus 14.3 in October, indicating a modest slowdown in the pace of increases. Meanwhile, the prices received index moved to -8.6 in November from -7.5 the prior month.
The tepid activity seen in the Philadelphia Fed report is consistent with a modest economic rebound currently being turned in by the U.S. economy. Earlier this month the Fed cut interest rates to 40-year lows, in an action it said was bent on helping the economy through what it deemed a soft spot.
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