Philly Fed Index Tops Forecasts

The Mid-Atlantic manufacturing sector expanded for the second month in a row in July, according to the latest regional survey from the Federal Reserve Bank of Philadelphia.

The Philly Fed index rose to 8.3 in July from 4.0 in June, topping expectations for a reading of 7.5.

"Regional manufacturing showed signs of improvement again this month," the Fed said. "Most of the survey's indexes of current performance improved and suggest a slight expansion of business." ...