SIJ - Philly Fed Manufacturing Index: Activity Expands In July
2024-07-21 00:30:00 ET
Summary
- Philly Fed's monthly survey of manufacturers in the Third Federal Reserve District indicates business conditions in the region.
- July Philadelphia Fed manufacturing index rose to 13.9, above forecast, showing overall expansion in manufacturing activity.
- Future indicators suggest widespread expectations for growth over the next six months, with the six-month outlook at its highest level in three years.
The Philly Fed's Manufacturing Business Outlook Survey is a monthly survey of about 250 manufacturers in the Third Federal Reserve District, which covers eastern Pennsylvania, southern New Jersey, and Delaware. Participants of the survey indicate the relative level of general business conditions in the region. Since this is a diffusion index, negative readings indicate contraction and positive ones indicate expansion. While it focuses exclusively on business in this district, this regional survey gives a reliable direction of the broader Chicago Fed's National Activity Index ....
Philly Fed Manufacturing Index: Activity Expands In July