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Philly Fed beats expectations

The Philadelphia Fed's manufacturing business outlook survey for March topped expectations.

Cheese steak from Pat's King of Steaks in South Philly

The Philadelphia Fed's manufacturing business outlook survey for March topped expectations, suggesting continued growth in the region's manufacturing sector.

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The index posted a reading of 32.8, against economists' expectations of 30, down from 43.3 in February, its highest reading since 1984.

The survey gauges manufacturing conditions in the Philadelphia Federal Reserve district.

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