November 18, 2011 8:00 AM, EST

Philadelphia Manufacturing Growth Slows

Manufacturing activity in the Philadelphia region declined this month but showed expansion, the Federal Reserve Bank of Philadelphia said.

The area’s factory index fell to a reading of 3.6, from 8.7 in October. Readings greater than zero indicate expansion.

The reading was below economists’ forecasts of a 9 reading, Bloomberg reported.

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