Philadelphia Manufacturing Index Slows

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

The area’s factory index for April fell to a reading of 18.5, the lowest in November, from a reading of 43.4 in March, which had been the highest in 27 years.

Readings greater than zero indicate expansion.

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