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philly fed
Economic Indicators
Bottom Line: The Philadelphia Fed's Manufacturing survey fell again, disappointing expectations after a surprise rebound last month. The bottoming process in the goods economy remains volatile. Nonetheless, there are signs of a slow turn in manufacturing after several quarters of...
Bottom Line: The Philadelphia Fed's Manufacturing survey was sharply higher than expected, rising to levels suggesting expansion for the first time in a year. New orders led the gains as shipments rose for the second time in three months. Nearly...
Bottom Line: The Philadelphia Fed's Manufacturing survey was lower than expected, firmly in contraction territory for the 13th month in the last 14. The details, including current new orders and shipments, were as weak as the headline. Input price pressures...
Bottom Line: The Philadelphia Fed's Manufacturing survey showed a smaller-than-expected contraction in activity. New orders and shipments continued to contract but at a slower pace than earlier this year. Prices paid remained firm, edging modestly higher. Employment fell for the...
Bottom Line: Countering the surprising strength in the New York Fed survey, the Philadelphia Fed's Manufacturing survey showed another sharp drop in activity. However, the details weren't quite as bad as the headline. New orders and shipments contracted at a...
Bottom Line: The New York Fed's Empire Manufacturing Index remained deeply in contraction territory in February as new orders continued to decline. Shipments were sharply lower, as were unfilled orders. Employment, which had been holding up in this sector and...
Bottom Line: The Philadelphia Fed's index of manufacturing activity fell sharply in February after rebounding in January. The details were not quite as negative as the headline, as the ISM-weighted index was only slightly negative with modest new order declines....
Bottom Line: The Philadelphia Fed's index of manufacturing activity rose for the first month in five in January, coming in better than expected. Moreover, there were positive revisions to earlier data. On an ISM-weighted basis, the index edged ever so...
Bottom Line: The Philadelphia Fed's index of manufacturing activity fell for the third month in a row in October, as new orders dropped sharply, declining for the sixth month. Shipments still rose slightly as manufacturers worked off backlogs. However, the...
Bottom Line: The Philadelphia Fed's index of manufacturing activity fell for the second month in a row in October, as new orders declined for the fifth month. Shipments still rose slightly as manufacturers worked off backlogs. However, the report continued...
Bottom Line: The Philadelphia Fed's and the New York Fed's surveys of manufacturing activity showed a contraction in September. While The Empire survey was better than expected, Philly disappointed expectations. While new orders rose slightly in the Empire survey, both...
Bottom Line: The Philadelphia Fed's index of manufacturing activity rose, coming in better than expected and much better than the New York Fed's survey. Shipments were stronger as manufacturers worked off backlogs. However, the report continued to suggest weakness going...
Bottom Line: The Philadelphia Fed's index of manufacturing activity fell sharply, dashing hopes that last month's deceleration was just normal volatility. Nearly every major subcomponent showed slowing activity, with the index in negative territory when recalculated on an ISM-weighted basis....
Bottom Line: The Philadelphia Fed's index of manufacturing activity fell more than expected in June. This follows a sharp decline in May and a decline in the neighboring Empire manufacturing survey reported earlier this week. The index fell into negative...
Bottom Line: The Philadelphia Fed's index of manufacturing activity fell more than expected in May, hitting its lowest level in two years. The details, though, were much better than the headline. The decline was led by a sharp drop in...