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Despite the fact that a key indicator of the September report noted an increase from -1.9 to 5.7 vs. 1.0, release details on the Philadelphia Fed manufacturing activity showed that the indicators of employment, new orders and semi-annual outlook marked decline. Only thanks to the positive dynamics in the category of shipments (-0.2 vs. prev. -21.2) And reserves (2.1 vs. prev. -21.7) Key indicator registered an improvement. According to the report, employment continues to shift away from jobs with full-time employment to fragile items.
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