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.