Philadelphia Manufacturing Index Improves

Manufacturing levels in the Philadelphia region improved this month, but continued to show contraction, the Federal Reserve Bank of Philadelphia said Thursday.

The area’s economic index rose to a negative 15.6 reading, from negative 24.9 last month, the regional Fed said.

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

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