The Philadelphia Fed Manufacturing Index climbed to 41.4 in July 2026 from 10.3 in June, largely beating market expectations of 13. The latest data pointed to a continued recovery in business conditions, with activity expanding at the fastest pace since November 2021. The current new orders index jumped 10 points to 37.0, its highest level since November 2021, while the shipments index climbed 19 points to 33.7, the strongest reading since April. The employment index edged up 2 points to 10.0, its highest level since December, and the average workweek index surged 21 points to 14.0, reaching its highest reading since January 2025. Meanwhile, both price indicators continued to signal rising prices, with the prices paid index edging up to 53.9 and the prices received index jumping 7 points to 27.4. Firms maintained positive expectations for the next six months, even as most future indicators eased from elevated levels. source: Federal Reserve Bank of Philadelphia

Philadelphia Fed Manufacturing Index in the United States increased to 41.40 points in July from 10.30 points in June of 2026. Philadelphia Fed Manufacturing Index in the United States averaged 8.83 points from 1968 until 2026, reaching an all time high of 58.50 points in March of 1973 and a record low of -58.70 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 August of 2026.

Philadelphia Fed Manufacturing Index in the United States increased to 41.40 points in July from 10.30 points in June of 2026. Philadelphia Fed Manufacturing Index in the United States is expected to be 7.00 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
2026-06-18 12:30 PM
Philadelphia Fed Manufacturing Index
Jun 10.3 -0.4 10 9
2026-07-16 12:30 PM
Philadelphia Fed Manufacturing Index
Jul 41.4 10.3 13 11
2026-08-20 12:30 PM
Philadelphia Fed Manufacturing Index
Aug 41.4 25



Components Last Previous Unit Reference
Philly Fed Business Conditions 34.40 50.20 points Jul 2026
Philly Fed CAPEX Index 30.10 41.20 points Jul 2026
Philly Fed Employment 10.00 7.90 points Jul 2026
Philly Fed New Orders 37.00 27.30 points Jul 2026
Philly Fed Prices Paid 53.90 53.20 points Jul 2026

Related Last Previous Unit Reference
Coincident Index 149.20 148.90 points May 2026
Leading Economic Index 99.30 97.40 points May 2026
Philadelphia Fed Manufacturing Index 41.40 10.30 points Jul 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
41.40 10.30 58.50 -58.70 1968 - 2026 points Monthly
SA

News Stream
Philadelphia Factory Activity Accelerates, Tops Forecasts
The Philadelphia Fed Manufacturing Index climbed to 41.4 in July 2026 from 10.3 in June, largely beating market expectations of 13. The latest data pointed to a continued recovery in business conditions, with activity expanding at the fastest pace since November 2021. The current new orders index jumped 10 points to 37.0, its highest level since November 2021, while the shipments index climbed 19 points to 33.7, the strongest reading since April. The employment index edged up 2 points to 10.0, its highest level since December, and the average workweek index surged 21 points to 14.0, reaching its highest reading since January 2025. Meanwhile, both price indicators continued to signal rising prices, with the prices paid index edging up to 53.9 and the prices received index jumping 7 points to 27.4. Firms maintained positive expectations for the next six months, even as most future indicators eased from elevated levels.
2026-07-16
Philadelphia Factory Activity Rebounds in June
The Philadelphia Fed Manufacturing Index improved to 10.3 in June 2026 from -0.4 in May, slightly above market expectations of 10, signaling a return to expansion in regional manufacturing activity. Around 32% of firms reported higher activity, compared with 22% reporting declines, while 45% saw no change. The current shipments index increased 10 points to 14.9, and the new orders index jumped 29 points to 27.3, indicating stronger demand conditions. Employment also improved, with the employment index rising 11 points to 7.9, its highest level since January, although most companies reported unchanged staffing levels. Price pressures remained elevated, with the prices paid index rising 5 points to 53.2, while the prices received index declined 6 points to 20.3, its lowest since February but still above historical averages. Firms remained optimistic, continuing to expect growth over the next six months.
2026-06-18
Philadelphia Factory Activity Disappoints
The Philadelphia Fed Manufacturing Index fell to -0.4 in May 2026 from 26.7 in the prior month and against market forecasts of 18. The reading pointed to a marginal contraction in regional manufacturing activity after a solid expansion in the month before. The shipments index declined 29 points to 4.9, and the new orders index fell 35 points to -1.7, its lowest reading since April 2025. The employment index improved by 2 points to -2.8 in May but remained in negative territory for the third time in four months, signaling continued job shedding. Both price indexes declined this month but remained above their long-run averages. The current prices paid index fell 11 points to 47.9 in May, while prices received index deceased 7 points to 26.3. Looking ahead, firms continued to anticipate overall growth in the coming six months, with most future indicators climbing from already elevated levels.
2026-05-21