Philadelphia Manufacturing Index Rises to Four-Month High

Manufacturing activity in the Philadelphia region expanded at a faster pace in January, reaching a four-month high, the Federal Reserve Bank of Philadelphia said Thursday.

The region’s factory index rose to a reading of 10.2, from 7.3 in January. Readings greater than zero indicate expansion.

The index was higher 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.