Philadelphia Manufacturing Index Rises to 11-Month High

Manufacturing activity in the Philadelphia region expanded in March at the fastest pace in 11 months, the Federal Reserve Bank of Philadelphia said Thursday.

The region’s factory index rose to a reading of 12.5, from 10.2 in February. Readings greater than zero indicate expansion.

The index was higher than economists’ forecasts of a 12 reading, Bloomberg reported.

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