By Greg Robb
WASHINGTON (MarketWatch) - Manufacturing activity in the Philadelphia region rebounded only slightly in July, the Federal Reserve Bank of Philadelphia reported Thursday. The Philly Fed diffusion index rose to negative 12.9 in July from negative 16.6 in June. This is the third straight monthly reading below zero, indicating contraction. The increase in the index was smaller than expected. Economists were looking for the index to improve to negative 6.8.
