The Philadelphia Fed Manufacturing Index in the United States rose to 16.6 in May of 2019 from 8.5 in the previous month, well above market expectations of 9, and reaching the highest level since January. Faster increases were seen in shipments (27.6 from 18.4 in April) and employment (18.2 from 14.7) while new orders (11.0 from 15.7) and average workweek (10.9 from 11.2) slowed. Meantime, prices paid accelerated (23.1 from 21.6) while prices received eased (17.5 from 20.0). Additionally, the 6-month outlook went up to 19.7 in May from 19.1 in April. Philadelphia Fed Manufacturing Index in the United States averaged 9.10 Index Points from 1968 until 2019, reaching an all time high of 58.50 Index Points in March of 1973 and a record low of -57.90 Index Points in December of 1974.
Philadelphia Fed Manufacturing Index in the United States is expected to be 9.41 Index 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 18.00 in 12 months time. In the long-term, the United States Philadelphia Fed Manufacturing Index is projected to trend around 16.00 Index Points in 2020, according to our econometric models.