The Philadelphia Fed Manufacturing Index in the US increased to -43.1 in May of 2020 from -56.6 in April which was the lowest reading since July 1980, due to the coronavirus pandemic. Figures compare with market forecasts of -41.5 and point to the third straight month of falling factory activity in Philadelphia. Smaller declines were seen for new orders (-25.7 from -70.9), shipments (-30.3 from -74.1), employees (-15.3 from -46.7) and average workweek (-7.1 from -54.5). Also, inventories increased (11.7 from -10.2) and price pressures intensified for prices paid (3.2 from -9.3). The firms expect the current slump in manufacturing activity to last less than six months, as the broadest indicator of future activity strengthened further from last month’s reading; furthermore, the firms continue to expect overall growth in new orders, shipments, and employment over the next six months.

Philadelphia Fed Manufacturing Index in the United States averaged 8.98 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. 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 May of 2020. source: Federal Reserve Bank of Philadelphia

Philadelphia Fed Manufacturing Index in the United States is expected to be -41.00 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 2021, according to our econometric models.

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United States Philadelphia Fed Manufacturing Index

Actual Previous Highest Lowest Dates Unit Frequency
-43.10 -56.60 58.50 -57.90 1968 - 2020 points Monthly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-02-20 01:30 PM Feb 36.7 17 12 12
2020-03-19 12:30 PM Mar -12.7 36.7 10 15
2020-04-16 12:30 PM Apr -56.6 -12.7 -30 -29
2020-05-21 12:30 PM May -43.1 -56.6 -41.5 -50
2020-06-18 12:30 PM Jun -43.1 -41
2020-07-16 12:30 PM Jul
2020-08-20 12:30 PM Aug
2020-09-17 12:30 PM Sep -37


News Stream
Factory Activity in Philadelphia Falls Again
The Philadelphia Fed Manufacturing Index in the US increased to -43.1 in May of 2020 from -56.6 in April which was the lowest reading since July 1980, due to the coronavirus pandemic. Figures compare with market forecasts of -41.5 and point to the third straight month of falling factory activity in Philadelphia. Smaller declines were seen for new orders (-25.7 from -70.9), shipments (-30.3 from -74.1), employees (-15.3 from -46.7) and average workweek (-7.1 from -54.5). Also, inventories increased (11.7 from -10.2) and price pressures intensified for prices paid (3.2 from -9.3). The firms expect the current slump in manufacturing activity to last less than six months, as the broadest indicator of future activity strengthened further from last month’s reading; furthermore, the firms continue to expect overall growth in new orders, shipments, and employment over the next six months.
2020-05-21
Philadelphia Manufacturing Index Lowest Since 1980
The Philadelphia Fed Manufacturing Index in the US dropped to -56.6 in April 2020 from -12.7 in February and compared with market expectations of -30. It is the lowest reading since July 1980, as the survey’s current indicators for general activity, new orders, and shipments once again fell sharply, coinciding with ongoing developments related to the coronavirus pandemic. The index for new orders declined further into negative territory, from -15.5 to -70.9, its lowest on record; and the current shipments index dropped to an all-time low of -74.1. Unfilled orders fell 6 points while delivery times rose 13 points, suggesting longer delivery times. The firms reported widespread decreases in employment, as the current employment index fell to -46.7, its lowest since March 2009; and the average workweek index went down to an all-time low of -54.5. Firms expect the current letup in manufacturing activity to last less than six months, as the indicator of future activity strengthened.
2020-04-16
Philly Fed Manufacturing Index at Over 8-Year Low
The Philadelphia Fed Manufacturing Index in the United States slumped to -12.7 in March of 2020 from 36.7 in February and well below market expectations of 10. It is the lowest reading since July 2012 as the survey’s current indicators for general activity, new orders, and shipments fell precipitously this month, coinciding with developments related to the coronavirus. The index for new orders also turned negative, falling from 33.6 to -15.5. The current shipments index fell 25 points; and both the unfilled orders and delivery times indexes moved into negative territory, falling 15 points and 12 points, respectively. The firms reported an overall slight increase in manufacturing employment this month, but the current employment index decreased 6 points to 4.1, itslowest reading since November 2016. The average workweek index fell 10 points but remained slightly positive at 0.5.
2020-03-19
Philadelphia Manufacturing at 3-Year High
The Philadelphia Fed Manufacturing index for current general activity rose by 20 points from the previous month to 36.7 in February 2020, its highest since February 2017. The reading came above market expectations of 12, as the indicators for general activity, new orders, and shipments increased this month, suggesting more widespread growth. The index for new orders increased 15 points to 33.6, its highest reading since May 2018. Both the unfilled orders and delivery times indexes moved into positive territory this month, suggesting slightly higher unfilled orders and slower delivery times. The firms reported expansion in employment, although at a moderated pace from January. The survey’s broad future indexes also showed improvement this month, indicating that growth is expected to continue over the next six months.
2020-02-20

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.