The Philadelphia Fed Manufacturing Index in the US fell to 23.8 in October of 2021 from 30.7 in September, pointing to a continuing expansion in manufacturing activity although slower than in the previous month. Both price indexes remained elevated and continue to suggest widespread increases in prices. The prices paid gauge was 70.3 vs 67.3 in September and prices received were 51.1 vs 52.9. Also, the new orders index improved (30.8 vs 15.9) and employment edged up (30.7 vs 26.3) while the shipments index held steady (30). Future indexes suggest that firms remained generally optimistic about growth over the next six months (24.2 vs 20). source: Federal Reserve Bank of Philadelphia

Philadelphia Fed Manufacturing Index in the United States averaged 9.42 points from 1968 until 2021, 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. 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 October of 2021.

Philadelphia Fed Manufacturing Index in the United States is expected to be 15.00 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 5.00 points in 2022, according to our econometric models.

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United States Philadelphia Fed Manufacturing Index


Calendar GMT Actual Previous Consensus TEForecast
2021-10-21 12:30 PM Philadelphia Fed Manufacturing Index Oct 23.8 30.7 25 25
2021-10-21 12:30 PM Philly Fed Business Conditions Oct 24.2 20
2021-11-18 01:30 PM Philadelphia Fed Manufacturing Index Nov 23.8


News Stream
Philadelphia Manufacturing Rises at Slower Pace
The Philadelphia Fed Manufacturing Index in the US fell to 23.8 in October of 2021 from 30.7 in September, pointing to a continuing expansion in manufacturing activity although slower than in the previous month. Both price indexes remained elevated and continue to suggest widespread increases in prices. The prices paid gauge was 70.3 vs 67.3 in September and prices received were 51.1 vs 52.9. Also, the new orders index improved (30.8 vs 15.9) while the shipments index held steady (30). Future indexes suggest that firms remained generally optimistic about growth over the next six months (24.2 vs 20).
2021-10-21
Philadelphia Manufacturing Unexpectedly Rises
The Philadelphia Fed Manufacturing Index in the US rose to 30.7 in September of 2021 from 19.4 in August, above forecasts of 18.8, suggesting general activity expanded faster. Also, the gauge for shipments improved (29.9 vs 18.9 in August), while the new orders (15.9 vs 22.8) and employment (26.3 vs 32.6) indexes softened somewhat. The indicators for prices paid (67.3 vs 71.2) and prices received (52.9 vs 53.9) remained elevated. The survey’s future indexes indicate that respondents continue to expect growth over the next six months, although the future general activity and new orders indexes continued to trend lower.
2021-09-16
Philadelphia Factory Growth Continues to Slow
The Philadelphia Fed Manufacturing Index in the US continued to fall for a 4th straight month to 19.4 in August of 2021, below forecasts of 23, and reaching a new low since December of 2020. Manufacturing activity in the Philadelphia region continued to grow but current indicators for general activity and shipments declined from July’s readings but remained elevated, while the new orders indicator rose. Additionally, employment increases were more widespread this month, and both price indexes remained elevated. Most future indexes moderated this month but continue to indicate that the firms expect growth over the next six months.
2021-08-19

United States Last Unit Reference Previous Highest Lowest
Philadelphia Fed Manufacturing Index 23.80 points Oct/21 30.70 58.50 -57.90
Leading Economic Index 129.23 points Aug/21 128.91 130.65 45.47


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.