Philadelphia Factory Index Falls

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

The area’s factory index fell to a reading of 5.1, from 8 in June, the regional Fed said. Readings greater than zero indicate expansion.

The level was below economists’ forecasts of a 10 reading, Bloomberg reported.

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