Philadelphia Factory Index Grows

Manufacturing levels in the Philadelphia expanded in March at the fastest pace so far this year, the Federal Reserve Bank of Philadelphia said Thursday.

The area’s factory index grew to an 18.9 reading, from 17.6 in February, the regional Fed said.

Readings greater than zero signal growth. February was the sixth consecutive month of expansion.

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