US Fed branch reports increase in Philadelphia manufacturing index
October 20, 2012, 12:06 am TWN
WASHINGTON -- Manufacturing in the Philadelphia region expanded in October following five months of declines, a positive sign for a U.S. manufacturing sector which had been weakening for much of the year.
The Federal Reserve Bank of Philadelphia reported Thursday that its index of regional manufacturing activity had a reading of 5.7 in October following a -1.9 reading in September. Any reading above zero indicates expansion. The survey covers manufacturing companies in Pennsylvania, New Jersey and Delaware.