Philadelphia Factory Index Gains

Manufacturing levels in the Philadelphia area rose this month, the Federal Reserve Bank of Philadelphia said Thursday.

The area’s economic index increased to a 4.2 reading from 0.2 in April. Figures greater than zero mean that most businesses report improving conditions.

The gain was greater than the 3.5 forecast by economists, Bloomberg reported.

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

The factory sector is one of trucking’s largest and most important customers.