The Philadelphia Fed Manufacturing index for current general activity rose by 14.6 points from the previous month to 17 in January 2020, its highest since May. The reading came above market expectations of 3.8, as the current new orders index increased 7.1 points, and the shipments index went up 7.7 points. Manufacturers continued to report expanding employment this month. The employment index increased 2.5 points to 19.3. Meanwhile, the indexes for unfilled orders and delivery times changed from positive to negative readings, suggesting decreased unfilled orders and shorter delivery times. On balance, the firms also reported a slight decline in inventories. The survey’s future activity indexes remained at relatively high levels, suggesting continued optimism about growth over the next six months. Philadelphia Fed Manufacturing Index in the United States averaged 9.11 points from 1968 until 2020, 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. source: Federal Reserve Bank of Philadelphia
Philadelphia Fed Manufacturing Index in the United States is expected to be 11.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Philadelphia Fed Manufacturing Index in the United States to stand at 9.00 in 12 months time. In the long-term, the United States Philadelphia Fed Manufacturing Index is projected to trend around 5.00 points in 2020, according to our econometric models.