Philadelphia Manufacturing Expands in January

Manufacturing activity in the Philadelphia region slipped but still showed expansion for a fourth straight month, the Federal Reserve Bank of Philadelphia said Thursday.

The area’s factory index fell to a reading of 19.3, from 20.8 in December, the regional Fed said. Readings greater than zero indicate expansion.

Economists predicted that the index would hold at the 20.8 level., Bloomberg reported.

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