Manufacturing falls in Philly region for 8th month (by Rex Nutting)

WASHINGTON (MarketWatch) -- Manufacturing in the Philadelphia region weakened for the eighth straight month in July, the Federal Reserve Bank of Philadelphia said Thursday. The Philly Fed index rose to negative 16.3 from negative 17.1 in June. Readings below zero indicate most firms in the survey said business was worse in July. Economists expected the index to improve slightly to negative 16. Three-fourths of companies reported paying higher prices for inputs, while a third said they were able to raise their own prices.