Feb. Philly Fed index climbs, tops forecast

WASHINGTON (MarketWatch)
The Philadelphia Fed's manufacturing index climbed to 10.2 in February from 7.3 in January to reach the highest level since October
Economists polled by MarketWatch had expected a reading of 9.5
The new orders index was positive for the fifth consecutive month and increased from 6.9 to 11.7. The gauge is a diffusion index, taken by subtracting the percentage of respondents who said activity declined from those who said it advanced