By Greg Robb
WASHINGTON (MarketWatch) - Improvement in the manufacturing sector in the Philadelphia region continued in September, the Federal Reserve Bank of Philadelphia reported Thursday. The Philly Fed diffusion index rose to 14.1 in September from 4.2 in August. This is the highest level of the index since July 2007. Economists polled by MarketWatch were expecting the index to rise to 9.0. Readings above zero indicate expansion. The index had been negative for ten months prior to turning positive in August. Despite the increase, the employment index remained firmly in negative territory in September, dropping to negative 14.3 from negative 12.9 in August.
