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.

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United States Philadelphia Fed Manufacturing Index

Actual Previous Highest Lowest Dates Unit Frequency
17.00 2.40 58.50 -57.90 1968 - 2020 points Monthly
SA



Calendar GMT Actual Previous Consensus TEForecast
2019-10-17 12:30 PM Oct 5.6 12 8 5
2019-11-21 01:30 PM Nov 10.4 5.6 7 6.8
2019-12-19 01:30 PM Dec 0.3 10.4 8 9
2020-01-16 01:30 PM Jan 17 2.4 3.8 4
2020-02-20 01:30 PM Feb 17 7


News Stream
2019-12-19
Philadelphia Manufacturing at 6-Month Low
The Philadelphia Fed Manufacturing index for current general activity dropped by 10.1 points from the previous month to 0.3 in December 2019, its lowest reading since June and below market expectations of 8.0. Manufacturers continued to report expanding employment, although the current employment index decreased 3.7 points to 17.8. Meanwhile, the indexes for current shipments and new orders rose 6.1 points and 1.0 point respectively. Both the unfilled orders and delivery times indexes remained positive,suggesting higher unfilled orders and slower delivery times.

2019-11-21
Philadelphia Fed Manufacturing Index Rises
The Philadelphia Fed Manufacturing index for current general activity rose by 4.8 points from the previous month to 10.4 in November 2019, beating market expectations of 7.0. Meanwhile, the indexes for current shipments and new orders fell 17.8 points and 9.1 points respectively. In addition, the current employment index decreased 11.4 points to 21.5. Both the unfilled orders and delivery times indexes remained positive this month, suggesting higher unfilled orders and slower delivery times.

2019-10-17
US Philadelphia Fed Manufacturing Index Falls
The Philadelphia Fed Manufacturing index for current general activity fell 6.4 points from the previous month to 5.6 in October, the lowest since June after decreasing 4.8 points in September. The reading came below market expectations of 8 as the general activity and shipments indicators decreased. Meanwhile, the indicators for new orders and employment improved. The survey’s future activity indexes remained positive, suggesting continued optimism about growth for the next six months.

2019-09-19
US Philadelphia Fed Manufacturing Index Falls
The Philadelphia Fed Manufacturing index for current general activity decreased 4.8 points from a month earlier to 12 in September 2019, still beating market expectations of 11. The index for current new orders dropped slightly to 24.8 from 25.8 in August. Meanwhile, the current shipments index, went up 7.4 points to 26.4. Both the unfilled orders and delivery times indexes remained positive this month, suggesting higher unfilled orders and slower delivery times. The firms reported overall improvement in manufacturing employment this month. Nearly 25 percent of the firms reported higher employment, while 9 percent reported lower employment. The employment index increased 12.2 points to 15.8, and the average workweek index advanced 6.2 points to 13.

2019-08-15
Philadelphia Fed Manufacturing Index Falls
The Philadelphia Fed Manufacturing index for current general activity dropped 5 points from a month earlier to 16.8 in August 2019, still beating market consensus of 10.0. The current new orders index increased 7 points, while the shipments index decreased 6 points. Both the unfilled orders and delivery times indexes remained positive this month, suggesting higher unfilled orders and slower delivery times. The firms reported overall increases in manufacturing employment this month, but the current employment index decreased 26 points to 3.6, its lowest reading since November 2016. Nearly 25 percent of the firms reported higher employment, compared with 36 percent last month. Nearly 21 percent of the firms reported decreases in employment this month, up from 6 percent last month. The average workweek index also decreased but remained positive.

2019-07-18
Philadelphia Fed Manufacturing Index at 1-Year High
The Philadelphia Fed Manufacturing index for current general activity jumped 21.5 points from a month earlier to 21.8 in July 2019, the highest in a year, easily beating market consensus of 5.0. New orders and shipments increased at a faster pace while employment growth was the strongest since October 2017. Also, the average workweek index hit a 14-month high. On the price front, the prices paid and prices received indexes both increased this month but remained well below their readings over the past few years. Looking ahead, optimism about growth for the next six months improved to its highest since May 2018.


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.

United States Business Last Previous Highest Lowest Unit
Business Confidence 47.20 48.10 77.50 29.40 points [+]
Services PMI 52.80 51.60 61.00 49.30 points [+]
Non Manufacturing PMI 55.00 53.90 62.00 37.80 points [+]
Manufacturing PMI 52.40 52.60 57.90 50.30 points [+]
Composite Pmi 52.70 52.00 61.00 50.00 points [+]
Industrial Production -1.00 -0.70 62.00 -33.70 percent [+]
Industrial Production Mom -0.30 0.80 16.60 -10.40 percent [+]
Manufacturing Production -1.30 -0.90 67.90 -39.40 percent [+]
Capacity Utilization 77.02 77.37 89.39 66.69 percent [+]
Durable Goods Orders -2.00 0.20 23.20 -18.40 percent [+]
Durable Goods Orders Ex Defense 0.80 0.00 25.50 -19.20 percent [+]
Durable Goods Orders Ex Transportation 0.00 0.30 6.30 -10.20 percent [+]
Factory Orders Ex Transportation 0.30 0.30 4.60 -7.00 percent [+]
New Orders 493029.00 496962.00 549482.00 223500.00 USD Million [+]
Factory Orders -0.70 0.20 10.40 -9.70 percent [+]
Business Inventories -0.20 0.10 1.30 -2.00 percent [+]
Changes in Inventories 69.44 69.40 173.21 -245.13 USD Billion [+]
Wholesale Inventories -0.10 0.10 2.10 -2.00 percent [+]
Bankruptcies 22910.00 22483.00 82446.00 19695.00 Companies [+]
Corporate Profits 1868.66 1857.53 1873.90 14.67 USD Billion [+]
NFIB Business Optimism Index 102.70 104.70 108.80 80.10 points [+]
NY Empire State Manufacturing Index 4.80 3.30 39.00 -34.30 points [+]
Philadelphia Fed Manufacturing Index 17.00 2.40 58.50 -57.90 points [+]
Richmond Fed Manufacturing Index -5.00 -1.00 27.00 -44.00 points [+]
Ism New York Index 39.10 50.40 88.80 23.40 percent [+]
Dallas Fed Manufacturing Index -3.20 -1.30 47.60 -59.90 points [+]
Chicago Fed National Activity Index 0.56 -0.76 2.79 -5.29 [+]
Chicago Pmi 48.90 46.30 78.60 21.20 points [+]
Total Vehicle Sales 17.10 16.60 21.77 9.05 Million [+]
Car Production 2.53 2.57 9.92 1.29 Million Units [+]
Car Registrations 373.49 385.66 1149.00 331.50 Thousand [+]
Crude Oil Stocks Change -2.55 1.16 14.42 -15.22 BBL/1Million [+]
Gasoline Stocks Change 6678.00 9137.00 11456.00 -8428.00 Thousand Barrels [+]
Natural Gas Stocks Change -109.00 -44.00 147.00 -359.00 Billion cf [+]
Leading Economic Index 129.78 129.35 129.78 45.48 points [+]
Internet Speed 18747.58 17235.62 18747.58 3609.31 KBps [+]
IP Addresses 128949703.00 127873899.00 146874246.00 89399946.00 IP [+]
Crude Oil Rigs 673.00 659.00 1609.00 98.00 [+]
API Crude Oil Stock Change 1.10 -5.95 14.30 -12.40 BBL/1Million [+]
Competitiveness Index 83.67 85.64 85.64 5.42 Points [+]
Competitiveness Rank 2.00 1.00 7.00 1.00 [+]
Corruption Index 71.00 75.00 78.00 71.00 Points [+]
Corruption Rank 22.00 16.00 24.00 14.00 [+]
Crude Oil Imports -595.00 1776.00 2201.00 -2518.00 Thousand Barrels [+]
Distillate Fuel Production -105.00 -1.00 570.00 -699.00 Thousand Barrels [+]
Distillate Stocks 8171.00 5330.00 11205.00 -13011.00 Thousand Barrels [+]
Cushing Crude Oil Stocks 342.00 -821.00 4737.00 -4184.00 Thousand Barrels [+]
Ease of Doing Business 6.00 8.00 8.00 4.00 [+]
Gasoline Production 394.00 -1286.00 1082.00 -1494.00 Thousand Barrels [+]
Steel Production 7233.00 7407.00 11951.00 3799.00 Thousand Tonnes [+]
Refinery Crude Runs 76.00 -386.00 1572.00 -3253.00 Thousand Barrels [+]
Mining Production 1.40 2.30 108.20 -28.80 percent [+]
Kansas Fed Manufacturing Index -7.00 -5.00 37.00 -32.00 points [+]
Heating Oil Stocks -168.00 -84.00 94208.00 -92090.00 Thousand Barrels [+]