NEW YORK (Reuters) -- Factory activity in the U.S. Mid-Atlantic region rebounded in November after contracting for the past two months, according to a survey released on Thursday.
The Philadelphia Federal Reserve Bank said its business activity index rose to 5.1 in November from -0.7 in October. Wall Street analysts had called for a rise of 5.0 in November.
Any reading above zero indicates growth in the region's manufacturing sector.
The new orders index, a gauge of future growth, fell to -3.7 in November from 13.4 in October.
The regional survey is one of the first indicators of U.S. manufacturing every month and is often used as a guidepost to the overall state of factories nationwide.
Wal-Mart Adds 11 States to $4 Drug Offer (AP)
http://biz.yahoo.com/ap/061116/wal_mart_prescription_drugs.html?.v=1
Growing investor complacency a concern (FT article on Yahoo News)
http://news.yahoo.com/s/ft/20061115/bs_ft/fto111520061350314737
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