The Philadelphia Federal Reserve reports that its diffusion index of current activity, its broadest economic measure, rose in September to -1.9, up from -7.1 in August. The Philly Fed Survey has now improved three months in a row, rising from -16.6 in June.

Although positive and trending upwards, it should be noted that any reading below 0 still signifies contraction, things are just contracting at a slower rate now.

 

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