Philadelphia Factory Index Dips

Manufacturing levels declined in the Philadelphia area this month, the Federal Reserve Bank of Philadelphia said Thursday.

The area’s economic index fell to 6.8 from 10.9 in September, the Fed said. Figures greater than zero indicate expansion.

The level was below economists’ forecasts of a 7 reading, Bloomberg reported.

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.