Philadelphia Manufacturing Index Improves

Manufacturing levels in the Philadelphia region improved this month but still showed contraction, the Federal Reserve Bank of Philadelphia said Thursday.

The area’s index improved to a negative 2.2 reading from minus 22.6 last month, the regional Fed said.

Figures greater than zero indicate expansion, while those less than zero show contraction.

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