Philadelphia Fed Manufacturing Activity Slows More than Expected

2026-10-15 12:39 By Judith Sib-at 1 min. read

The Philadelphia Fed Manufacturing Index fell to 20.9 in October 2026 from 37.8 in September, well below market expectations of 28.4.

The latest reading pointed to the slowest expansion in manufacturing activity since June.

The new orders index dropped 25 points to 4.3, while the shipments index fell 12 points to 15.3, although both remained in expansionary territory.

The employment index edged down 3 points to 9.1 but continued to signal overall job growth.

Meanwhile, the prices paid index declined 5 points to 43.2, while the prices received index rose 9 points to 40.1, its highest level since May 2025.

Both indices continued to indicate overall price increases.

Looking ahead, firms remained optimistic about the next six months, with 51.4% expecting general business activity to increase.

However, most future indicators declined.



News Stream
Philadelphia Fed Manufacturing Activity Slows More than Expected
The Philadelphia Fed Manufacturing Index fell to 20.9 in October 2026 from 37.8 in September, well below market expectations of 28.4. The latest reading pointed to the slowest expansion in manufacturing activity since June. The new orders index dropped 25 points to 4.3, while the shipments index fell 12 points to 15.3, although both remained in expansionary territory. The employment index edged down 3 points to 9.1 but continued to signal overall job growth. Meanwhile, the prices paid index declined 5 points to 43.2, while the prices received index rose 9 points to 40.1, its highest level since May 2025. Both indices continued to indicate overall price increases. Looking ahead, firms remained optimistic about the next six months, with 51.4% expecting general business activity to increase. However, most future indicators declined.
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