Investing.com - The Philadelphia Fed's manufacturing index rose in September, to a reading of 22.9 from 11.9 in August, the Philly Fed reported on Thursday.
The consensus forecast had been for a reading of 17.0.
Any reading above zero indicates improving conditions and below indicates worsening conditions.
With regard to future activity in the sector, new orders increased to 21.4 in September, compared to prior month's reading of 9.9.
The employment index advanced to 17.6 in September, compared to a prior reading of 14.3, indicating a faster pace of hiring.
Meanwhile, the prices paid index fell to 39.60 this month from 55.00.
The Philly Fed noted that the survey’s broad indicators for general activity, new orders, shipments, and employment remained positive and increased from their readings in August, while the survey’s respondents reported diminished price pressures this month.
“Expectations for the next six months remained optimistic, but most broad future indicators showed some moderation,” the report concluded.