Philadelphia Factory Index Contracts

Manufacturing levels in the Philadelphia region contracted this month, the Federal Reserve Bank of Philadelphia said.

The area’s economic index fell to a negative 5.7 reading from 8.2 in November, the Fed said. Figures greater than zero indicate expansion and less than zero

The index averaged 6.1 for the first 11 months of the year.

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

The factory sector is one of trucking’s largest and most important customers.