By Greg Robb
WASHINGTON (MarketWatch) - Improvement in the manufacturing sector in the Philadelphia region paused in July, the Federal Reserve Bank of Philadelphia reported Thursday. The Philly Fed diffusion index fell to negative 7.5 in July from negative 2.2 in June. Economists polled by MarketWatch were expecting the index to slip to 3.3. Economists expected the index to slip after a big jump in June when the index improved from negative 22.6 in May. Readings below zero indicate contraction. The index has been negative since September 2008.
