Philadelphia Manufacturing Index Jumps in November

Manufacturing levels in the Philadelphia region rose in November for the second straight month, the Federal Reserve Bank of Philadelphia said Thursday.

The area’s factory index jumped to a reading of 22.5, from 1 in October, the regional Fed said. Readings greater than zero indicate expansion.

The level was well above economists’ forecasts of 5, Bloomberg reported.

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