Manufacturing growing in Phila. area

Producing carbon fiber at the Oak Ridge National Laboratory in Knoxville, Tenn., July 24, 2014. (Oak Ridge National Laboratory/Detroit Free Press/MCT)
Producing carbon fiber at the Oak Ridge National Laboratory in Knoxville, Tenn., July 24, 2014. (Oak Ridge National Laboratory/Detroit Free Press/MCT) (MCT)
Posted: August 23, 2014

Manufacturing continued to grow in the Philadelphia area in August, according to the monthly survey by the Federal Reserve of Philadelphia.

The survey's broadest measure of manufacturing activity has now advanced for three consecutive months and reached its highest level since March 2011.

A separate employment index stayed positive for the 14th month.

The bank's "Business Outlook Survey," released Thursday, is closely watched nationally as a read on economic and manufacturing trends.

Stocks moved higher on Wall Street on Thursday afternoon, with the Dow Jones Industrial Average up 72 points at 1 p.m.

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