Philadelphia Factory Index Declines in April

Manufacturing levels in the Philadelphia region declined this month, the Federal Reserve Bank of Philadelphia said.

The area’s economic index fell to a negative 24.9 reading, from negative 17.4 last month, from the regional Fed said.

Figures greater than zero indicate expansion and less than zero show contraction.

Economists had forecast the reading would improve to negative 15, Bloomberg reported.

The Philadelphia Fed surveys about 100 manufacturers for the index in eastern Pennsylvania, Delaware, and southern New Jersey.