Philadelphia Manufacturing Index Rebounds

Manufacturing activity in the Philadelphia region increased in July, the Federal Reserve Bank of Philadelphia said Thursday.

The area’s factory index rose to a reading of 3.2, from a reading of minus 7.7 a month earlier. Readings greater than zero indicate expansion.

The reading surpassed economists’ forecasts of a 2 reading, Bloomberg reported.

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