Philly Fed Index WAY Lower Than Expectations At Negative 0.7% Gregory White Sep. 16, 2010, 10:00 AM Philly Fed data came in lower than expected this morning, at -0.7%. That's two negative numbers in a row. The consensus was for a positive 3.8. That being said, the market is actually higher post-release. Here's the headlines from the release: Results from the Business Outlook Survey suggest that regional manufacturing activity was nearly flat in September. For the second consecutive month, firms reported a decline in both new orders and shipments. The general activity index increased to -0.7 from a reading of...