Manufacturing in Philly area shrinks for 4th month

Published August 16, 2012 2:30pm ET



WASHINGTON (AP) — Manufacturing in the Philadelphia region shrank for the fourth straight month in August, adding to worries that factory output nationwide could slow.

The Federal Reserve Bank of Philadelphia says its index of regional manufacturing activity had a reading of -7.1 in August. That’s only slightly better than July, when it read -12.9. Any reading below zero indicates contraction.

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