Philadelphia Manufacturing Index Rises

Manufacturing activity in the Philadelphia region expanded in October, the Federal Reserve Bank of Philadelphia said Thursday.

The regional Fed’s index registered a reading of 5.7, up from the minus 1.9 reading in September.

Readings greater than zero indicate expansion.

Economists had forecast the index would improve to 1, Bloomberg reported.

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