The Philadelphia Fed Manufacturing Index in the United States rose to 17 in January of 2019 from a downwardly revised 9.1 in December, well above market expectations of 10. Faster increases were seen in new orders (21.3 from 13.3) and average workweek (6 from 4) and price pressures slowed for both prices paid (32.7 from 38.9) and received (24.8 from 29). On the other hand, a slowdown was seen for shipments (11.4 from 12.4) and employment (9.6 from 19.1) and inventories contracted (-7.6 from 2.6). Additionally, the 6-month outlook edged up to 31.2 from 29.9. 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 25.00 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.