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Manufacturing levels in the Philadelphia region contracted this month at the fastest pace in 18 years, the Federal Reserve Bank of Philadelphia said Thursday.

The area’s economic index fell to a reading of negative 39.3, from negative 37.5 in October.

Figures greater than zero indicate expansion, while those less than zero show contraction. The regional index averaged 5.1 last year.

The Philadelphia Fed surveys about100 manufacturers for the index in eastern Pennsylvania, Delaware, and southern New Jersey.