Philadelphia Manufacturing Index Rises to 25.3

anufacturing in the Philadelphia area rose to 25.3, a Federal Reserve report said Thursday. Orders and shipments also accelerated.

The rate, which followed an 11.4 figure in March, was greater than analysts had expected, Bloomberg reported. They had forecast 11.4 again, within a range of estimates of 4.5 to 19.

An index number greater than zero signals a higher percentage of the manufacturers surveyed reported an improvement in business than deterioration. The Philadelphia index has been in positive territory since June 2003.

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