Philly Fed: Index for current manufacturing activity in the region increased 5 points to 23.8

"The index for current manufacturing activity in the region increased 5 points to a reading of 23.8 and has remained positive for 14 consecutive months," the Federal Reserve Bank of Philadelphia announced on Thursday.

Key takeaways:

• Nearly 39 percent of the firms indicated increases in activity this month; 15 percent reported a decrease in activity.
• The new orders and shipments indexes also registered an improvement, increasing 9 points and 8 points, respectively.
• Firms reported, on balance, an increase in manufacturing employment this month.
• The current employment index fell 4 points but has remained positive for 10 consecutive months.