STILL SHRINKING: Manufacturing in the Philadelphia region shrank for a fifth straight month in September, suggesting further weakening in demand for American-made goods.
THE NUMBERS: The Federal Reserve Bank of Philadelphia said its index of regional manufacturing had a reading of -1.9 in September. Any reading below zero indicates contraction.
THE CONTEXT: Manufacturing has slowed since spring. A weak job market and meager pay raises have hurt consumer spending, businesses are investing less in machinery and slower global growth has cut demand for U.S. exports.