The Philadelphia Fed Manufacturing Index in the US increased to -10.4 in May of 2023 from a nearly three-year low of -31.3 in April, and better than market forecasts of -19.8. General manufacturing activity in Philadelphia continued to decline overall but at at the slowest pace in four months. New orders (-8.9 vs -22.7) and shipments (-4.7 vs -7.3) rose from last month but remained negative while employment declined (-8.6 vs -0.2). The price indexes remained below long-run averages, with the prices received index declining further (-7 vs -3.3) although prices paid increased slightly more (10.9 vs 8.2). The survey’s future indexes continued to reflect muted expectations for growth (-10.3 vs -1.5), with almost 37% of the firms expecting a decrease in activity over the next six months. source: Federal Reserve Bank of Philadelphia
Philadelphia Fed Manufacturing Index in the United States averaged 9.13 points from 1968 until 2023, reaching an all time high of 58.50 points in March of 1973 and a record low of -61.20 points in April of 2020. 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 June of 2023.
Philadelphia Fed Manufacturing Index in the United States is expected to be 3.00 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.