The Philadelphia Fed Manufacturing Index in the US rose to -8.9 in January of 2023 from a revised reading of -13.7 in December, compared to market expectations of -11. It was still the fifth consecutive negative reading and the seventh negative reading in the past eight months. More than 33 percent of the firms reported declines in activity, exceeding the 24 percent that reported increases. The survey’s indicators for general activity, new orders, and shipments rose from last month, but the former two remained negative. The employment index rebounded. The firms reported overall increases in prices: The prices received index remained elevated, while the prices paid index returned to average readings. Most future indicators were positive, but expectations for growth over the next six months were not widespread. source: Federal Reserve Bank of Philadelphia

Philadelphia Fed Manufacturing Index in the United States averaged 9.32 points from 1968 until 2023, reaching an all time high of 58.50 points in March of 1973 and a record low of -57.90 points in December of 1974. This page provides the latest reported value for - United States Philadelphia Fed Manufacturing Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States Philadelphia Fed Manufacturing Index - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.

Philadelphia Fed Manufacturing Index in the United States is expected to be -2.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Philadelphia Fed Manufacturing Index is projected to trend around 19.00 points in 2024 and 10.00 points in 2025, according to our econometric models.

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United States Philadelphia Fed Manufacturing Index



Calendar GMT Actual Previous Consensus TEForecast
2022-12-15 01:30 PM Dec -13.8 -19.4 -10 -7
2023-01-19 01:30 PM Jan -8.9 -13.7 -11 -10
2023-02-16 01:30 PM Feb -8.9 -7


Related Last Previous Unit Reference
Philadelphia Fed Manufacturing Index -8.90 -13.70 points Jan 2023
Leading Economic Index 136.72 136.20 points Dec 2022
Philly Fed Prices Paid 24.50 36.30 points Jan 2023
Philly Fed New Orders -10.90 -22.30 points Jan 2023
Philly Fed Employment 10.90 -0.90 points Jan 2023
Philly Fed CAPEX Index 10.50 16.20 points Jan 2023
Philly Fed Business Conditions 4.90 -0.90 points Jan 2023

United States Philadelphia Fed Manufacturing Index
Philadelphia Fed Manufacturing Index is based on The Business Outlook Survey of manufacturers in the Third Federal Reserve District. Participants report the direction of change in overall business activity and in the various measures of activity at their plants: employment, working hours, new and unfilled orders, shipments, inventories, delivery times, prices paid, and prices received. The index above 0 indicates factory-sector growth, below 0 contraction.
Actual Previous Highest Lowest Dates Unit Frequency
-8.90 -13.70 58.50 -57.90 1968 - 2023 points Monthly
SA

News Stream
Philadelphia Factory Activity Shrinks Less than Expected
The Philadelphia Fed Manufacturing Index in the US rose to -8.9 in January of 2023 from a revised reading of -13.7 in December, compared to market expectations of -11. It was still the fifth consecutive negative reading and the seventh negative reading in the past eight months. More than 33 percent of the firms reported declines in activity, exceeding the 24 percent that reported increases. The survey’s indicators for general activity, new orders, and shipments rose from last month, but the former two remained negative. The employment index rebounded. The firms reported overall increases in prices: The prices received index remained elevated, while the prices paid index returned to average readings. Most future indicators were positive, but expectations for growth over the next six months were not widespread.
2023-01-19
Factory Activity in Philadelphia Shrinks for 4th Month
The Philadelphia Fed Manufacturing Index in the US remained negative but rose 6 points to -13.8 in December of 2022, compared to market expectations of -10. This is its fourth consecutive negative reading and sixth negative reading in the past seven months. 31% of the firms reported declines in activity, while 17 percent reported increases. The majority (51%) reported no change. The new orders index decreased 9 points to -25.8, its lowest reading since April 2020, and the shipments index fell 13 points to -6.2, its first negative reading since May 2020. The employment index dipped into negative territory for the first time since June 2020, falling from 7.1 in November to -1.8 this month. The average workweek index also turned negative, falling 10 points to -8.9. The future indicators improved, suggesting that the firms expect overall growth over the next six months.
2022-12-15
Factory Activity in Philadelphia Shrinks
The Philadelphia Fed Manufacturing Index in the US fell to -19.4 in November of 2022 from -8.7 last month, the lowest since May of 2020 and well below market expectations of -6.2. The general activity index declined further, the new orders index remained negative, and the shipments index remained positive but low. The employment index declined but continued to suggest overall hiring, and the price indexes continued to suggest overall increases. Although the survey’s future indexes rose slightly, they continued to suggest that the firms expect overall declines in activity and new orders six months from now.
2022-11-17