Philadelphia Factory Index Rises in June

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

The area’s economic index jumped to an 18 reading from 4.2 in May. Figures greater than zero mean that most businesses report improving conditions.

The gain was well above economists’ forecast of a 7 reading, 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.