The Philadelphia Fed Manufacturing Index climbed to 26.7 in April 2026 from 18.1 in the prior month, hitting its strongest level since January 2025. The data surprised analysts on the upside, comfortably exceeding expectations for a drop to 10. The current shipments index rose 12 points to 34.0, while the index for current new orders jumped 24 points to 33.0. Meanwhile, the employment index fell 6 points to -5.1 in April. Both price indexes increased for the second month, continuing to run well above their long-term averages and marking their highest levels since August. The prices paid index rose 15 points to 59.3 in April, while the current prices received index rose 12 points to 33.5. Looking forward, the firms continue to expect overall growth over the next six months, although most future indicators have moved down. source: Federal Reserve Bank of Philadelphia

Philadelphia Fed Manufacturing Index in the United States increased to 26.70 points in April from 18.10 points in March of 2026. Philadelphia Fed Manufacturing Index in the United States averaged 8.79 points from 1968 until 2026, reaching an all time high of 58.50 points in March of 1973 and a record low of -60.50 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 April of 2026.

Philadelphia Fed Manufacturing Index in the United States increased to 26.70 points in April from 18.10 points in March of 2026. Philadelphia Fed Manufacturing Index in the United States is expected to be 9.00 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 15.00 points in 2027 and 9.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-03-19 12:30 PM
Philadelphia Fed Manufacturing Index
Mar 18.1 16.3 10 11
2026-04-16 12:30 PM
Philadelphia Fed Manufacturing Index
Apr 26.7 18.1 10 17
2026-05-21 12:30 PM
Philadelphia Fed Manufacturing Index
May 26.7

Components Last Previous Unit Reference
Philly Fed Business Conditions 40.80 40.00 points Apr 2026
Philly Fed CAPEX Index 35.20 25.80 points Apr 2026
Philly Fed Employment -5.10 0.80 points Apr 2026
Philly Fed New Orders 33.00 8.60 points Apr 2026
Philly Fed Prices Paid 59.30 44.70 points Apr 2026

Related Last Previous Unit Reference
Coincident Index 148.70 148.70 points Dec 2025
Leading Economic Index 97.50 97.60 points Jan 2026
Philadelphia Fed Manufacturing Index 26.70 18.10 points Apr 2026


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.
Actual Previous Highest Lowest Dates Unit Frequency
26.70 18.10 58.50 -60.50 1968 - 2026 points Monthly
SA

News Stream
Philadelphia Factory Activity Unexpectedly Rises
The Philadelphia Fed Manufacturing Index climbed to 26.7 in April 2026 from 18.1 in the prior month, hitting its strongest level since January 2025. The data surprised analysts on the upside, comfortably exceeding expectations for a drop to 10. The current shipments index rose 12 points to 34.0, while the index for current new orders jumped 24 points to 33.0. Meanwhile, the employment index fell 6 points to -5.1 in April. Both price indexes increased for the second month, continuing to run well above their long-term averages and marking their highest levels since August. The prices paid index rose 15 points to 59.3 in April, while the current prices received index rose 12 points to 33.5. Looking forward, the firms continue to expect overall growth over the next six months, although most future indicators have moved down.
2026-04-16
Philadelphia Factory Activity Expands the Most in 6 Months
The Philadelphia Fed Manufacturing Index rose to 18.1 in March 2026, the highest since September 2025, from 16.3 in February and way better than analysts' forecasts of 10. This marked the third consecutive month in positive territory, indicating continued expansion in regional manufacturing. The index for current new orders fell 3 points to 8.6, while the current shipments index rose 22 points to 22.2, its highest reading since January 2025. The inventories index ticked up 2 points to 1.4. At the same time, the employment index returned to positive territory, up 2 points to 0.8, but continued to suggest mostly steady employment overall. Both price indexes rose this month after declining last month. The prices paid index rose 6 points to 44.7, while the prices received index rose 5 points to 21.2. Looking ahead, the firms continue to expect overall growth over the next six months.
2026-03-19
Philadelphia Factory Activity Rises to Five-Month High
The Philadelphia Fed Manufacturing Index rose to 16.3 in February 2026, the highest since September and above expectations of 8.5. General business activity and new orders remained moderately strong, but shipments slowed sharply and nearly stalled. Employment levels were mostly steady, yet the employment index turned slightly negative and the average workweek shortened. Prices continued to rise overall, although both input costs and selling prices increased at a slower pace than before. Customer price sensitivity stayed largely unchanged, though about a third of firms said customers are becoming more sensitive to price. Many firms still expect industry costs to change soon, and most anticipate competitors will raise prices within three months. Tariffs were reported to have had a mostly negative impact over the past year, and many firms expect continued negative effects. Expectations for growth over the next six months strengthened, though planned capital spending declined.
2026-02-19