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8/16/2012 10:30:00 AM Write a Letter to the Editor Write a letter to the Editor

Philadelphia Factory Index Contracts for Fourth Month

Manufacturing activity in the Philadelphia region contracted for a fourth straight month in August, Federal Reserve Bank of Philadelphia said Thursday.

The regional Fed’s index registered a reading of minus 7.1, from the minus 12.9 reading in July.

Readings greater than zero indicate expansion, while below that level show contraction.

Economists had forecast the index would improve to minus 5, Bloomberg reported.

By Transport Topics

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