Philadelphia Factory Index Improves for Second Month

Manufacturing levels in the Philadelphia showed expansion for a second straight month in September, the Federal Reserve Bank of Philadelphia said Thursday.

The area factory index jumped to a 14.1 reading, from 4.2 in August, the regional Fed said.

Figures greater than zero indicate expansion, while those less than zero show contraction.

It was the first back-to-back growth since the end of 2007. The reading topped economists’ forecasts of an 8 reading, Bloomberg reported.

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