-->The Philadelphia Fed's manufacturing index in October fully reversed September's plunge, rising to 17.3 from 2.2. New orders, as they did in the Empire State report earlier this week, rose sharply, to 18.6 from -0.5, to indicate rising activity in the months ahead.

Price readings, as have they have in other reports, showed severe pressures. The prices paid index jumped to 67.6 from 52.7 while the prices received index jumped to 32.6 from 8.6. The reading in the latter is consistent with anecdotal reports suggesting that manufacturers are beginning to pass along price increases and more.