The Philadelphia Fed Manufacturing Index in the US dropped to -3.3 in June of 2022, well below forecasts pointing to growth of 5.5, signaling the first contraction in factory activity since May of 2020. Declines were seen in new orders (-12.4 vs 22.1 in May), unfilled orders (-7 vs 17.9), and inventories (-2.2 vs 3.2). At the same time, price pressures eased slightly but remained elevated for both prices paid (59.4 vs 78.9) and received (49.2 vs 51.7). On the other hand, the number of employees was seen higher (29.2 vs 25.5), despite a slowdown in optimism for growth in the next six months. source: Federal Reserve Bank of Philadelphia

Philadelphia Fed Manufacturing Index in the United States averaged 9.52 points from 1968 until 2022, 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 June of 2022.

Philadelphia Fed Manufacturing Index in the United States is expected to be 4.00 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 2023 and 5.00 points in 2024, according to our econometric models.

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United States Philadelphia Fed Manufacturing Index



Calendar GMT Actual Previous Consensus TEForecast
2022-05-19 12:30 PM May 2.6 17.6 16 17
2022-06-16 12:30 PM Jun -3.3 2.6 5.5 4
2022-07-21 12:30 PM Jul -3.3


Related Last Previous Unit Reference
Philadelphia Fed Manufacturing Index -3.30 2.60 points Jun 2022
Leading Economic Index 133.17 133.07 points Apr 2022
Philly Fed Prices Paid 64.50 78.90 points Jun 2022
Philly Fed New Orders -12.40 22.10 points Jun 2022
Philly Fed Employment 28.10 25.50 points Jun 2022
Philly Fed CAPEX Index 11.70 9.60 points Jun 2022
Philly Fed Business Conditions -6.80 2.50 points Jun 2022

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
-3.30 2.60 58.50 -57.90 1968 - 2022 points Monthly
SA

News Stream
Philadelphia Factory Activity Unexpectedly Contracts
The Philadelphia Fed Manufacturing Index in the US dropped to -3.3 in June of 2022, well below forecasts pointing to growth of 5.5, signaling the first contraction in factory activity since May of 2020. Declines were seen in new orders (-12.4 vs 22.1 in May), unfilled orders (-7 vs 17.9), and inventories (-2.2 vs 3.2). At the same time, price pressures eased slightly but remained elevated for both prices paid (59.4 vs 78.9) and received (49.2 vs 51.7). On the other hand, the number of employees was seen higher (29.2 vs 25.5), despite a slowdown in optimism for growth in the next six months.
2022-06-16
Philadelphia Factory Activity Growth Weakest in 2 Years
The Philadelphia Fed Manufacturing Index in the US dropped sharply to 2.6 in May of 2022, the lowest in 2 years, and well below forecasts of 16. A slowdown was seen in inventories (3.2 vs 11.9), employment (25.5 vs 41.4) and the average workweek (16.1 vs 20.8) while new orders (22.1 vs 17.8) and shipments (35.3 vs 19.1) rose faster. At the same time, price pressures eased slightly but remained elevated for both prices paid (78.9 vs 84.6) and received (51.7 vs 55). Meanwhile, future indexes suggest muted optimism for growth over the next six months.
2022-05-19
Philadelphia Factory Growth Slows in April
The Philadelphia Fed Manufacturing Index in the US fell to 17.6 in April of 2022 from 27.4 in March, below market expectations of 21, and pointing to a slowdown in manufacturing activity. The subindexes for shipments (19.1 vs 30.2) and new orders (17.8 vs 25.8) declined from last month but remained positive and price pressures intensified for both prices paid (84.6 vs 81, the highest since June of 1979) and received (55 vs 54.4). On the other hand, the employment index went up to a record of 41.4 from 38.9. Meanwhile, the future indicators for general activity fell by 15 points to 8.2, its lowest reading since December of 2008 and new orders also fell sharply, but overall the firms continued to expect growth over the next six months.
2022-04-21