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Subscribe for $2 United States Philly Fed Business Conditions
Price
The current value of the Philly Fed Business Conditions in United States is 36.7 Points. The Philly Fed Business Conditions in United States increased to 36.7 Points on 10/1/2024, after it was 15.8 Points on 9/1/2024. From 5/1/1968 to 11/1/2024, the average GDP in United States was 33.84 Points. The all-time high was reached on 9/1/1975 with 91 Points, while the lowest value was recorded on 12/1/1973 with -39.7 Points.
Philly Fed Business Conditions ·
3 years
5 years
10 years
25 Years
Max
Philly Fed Business Climate | |
---|---|
5/1/1968 | 20 points |
6/1/1968 | 28.5 points |
7/1/1968 | 41 points |
8/1/1968 | 17.4 points |
9/1/1968 | 21.4 points |
10/1/1968 | 40.2 points |
11/1/1968 | 50.3 points |
12/1/1968 | 53.4 points |
1/1/1969 | 43 points |
2/1/1969 | 28.2 points |
3/1/1969 | 35.7 points |
4/1/1969 | 33.7 points |
12/1/1969 | 7.1 points |
1/1/1970 | 23.4 points |
2/1/1970 | 37.8 points |
3/1/1970 | 38.2 points |
4/1/1970 | 56.4 points |
5/1/1970 | 63.5 points |
6/1/1970 | 71.2 points |
7/1/1970 | 64.8 points |
8/1/1970 | 76 points |
9/1/1970 | 70.2 points |
10/1/1970 | 78.6 points |
11/1/1970 | 79.1 points |
12/1/1970 | 74.3 points |
1/1/1971 | 75.2 points |
2/1/1971 | 76.7 points |
3/1/1971 | 76.5 points |
4/1/1971 | 69.3 points |
5/1/1971 | 77.5 points |
6/1/1971 | 71.5 points |
7/1/1971 | 76.4 points |
8/1/1971 | 79.4 points |
9/1/1971 | 82.9 points |
10/1/1971 | 76.1 points |
11/1/1971 | 73.8 points |
12/1/1971 | 77.9 points |
1/1/1972 | 73.7 points |
2/1/1972 | 68.3 points |
3/1/1972 | 62.9 points |
4/1/1972 | 69.3 points |
5/1/1972 | 71.4 points |
6/1/1972 | 69.5 points |
7/1/1972 | 73.6 points |
8/1/1972 | 67.6 points |
9/1/1972 | 66.7 points |
10/1/1972 | 68.7 points |
11/1/1972 | 69.7 points |
12/1/1972 | 79.3 points |
1/1/1973 | 66.4 points |
2/1/1973 | 63.3 points |
3/1/1973 | 53.2 points |
4/1/1973 | 39.9 points |
5/1/1973 | 23 points |
6/1/1973 | 16.3 points |
7/1/1973 | 9.5 points |
11/1/1973 | 3.2 points |
4/1/1974 | 20.6 points |
5/1/1974 | 31.4 points |
6/1/1974 | 25 points |
7/1/1974 | 24.4 points |
8/1/1974 | 29.2 points |
9/1/1974 | 28.7 points |
10/1/1974 | 24.1 points |
11/1/1974 | 16.2 points |
12/1/1974 | 20.7 points |
1/1/1975 | 30.5 points |
2/1/1975 | 34.7 points |
3/1/1975 | 54.2 points |
4/1/1975 | 57.1 points |
5/1/1975 | 63.8 points |
6/1/1975 | 79.4 points |
7/1/1975 | 78.3 points |
8/1/1975 | 85.8 points |
9/1/1975 | 91 points |
10/1/1975 | 88.7 points |
11/1/1975 | 83.6 points |
12/1/1975 | 75.6 points |
1/1/1976 | 75.9 points |
2/1/1976 | 77.3 points |
3/1/1976 | 77 points |
4/1/1976 | 69.6 points |
5/1/1976 | 72.6 points |
6/1/1976 | 65.9 points |
7/1/1976 | 69.6 points |
8/1/1976 | 54.1 points |
9/1/1976 | 69.4 points |
10/1/1976 | 67.8 points |
11/1/1976 | 65.5 points |
12/1/1976 | 71.4 points |
1/1/1977 | 79.6 points |
2/1/1977 | 80 points |
3/1/1977 | 73.8 points |
4/1/1977 | 66.5 points |
5/1/1977 | 57.5 points |
6/1/1977 | 61.3 points |
7/1/1977 | 71.1 points |
8/1/1977 | 52 points |
9/1/1977 | 49.8 points |
10/1/1977 | 39.8 points |
11/1/1977 | 56.4 points |
12/1/1977 | 52.4 points |
1/1/1978 | 42.1 points |
2/1/1978 | 31.6 points |
3/1/1978 | 24.5 points |
4/1/1978 | 30.2 points |
5/1/1978 | 31.1 points |
6/1/1978 | 21 points |
7/1/1978 | 6.7 points |
8/1/1978 | 12.2 points |
9/1/1978 | 3.7 points |
11/1/1978 | 6.8 points |
3/1/1980 | 3.5 points |
5/1/1980 | 7 points |
6/1/1980 | 25.1 points |
7/1/1980 | 36.9 points |
8/1/1980 | 56.4 points |
9/1/1980 | 75.5 points |
10/1/1980 | 66.1 points |
11/1/1980 | 68.5 points |
12/1/1980 | 73.2 points |
1/1/1981 | 54.6 points |
2/1/1981 | 52.4 points |
3/1/1981 | 66.5 points |
4/1/1981 | 66.9 points |
5/1/1981 | 71.8 points |
6/1/1981 | 62.8 points |
7/1/1981 | 69.3 points |
8/1/1981 | 63.8 points |
9/1/1981 | 62.2 points |
10/1/1981 | 53.8 points |
11/1/1981 | 61.9 points |
12/1/1981 | 71.1 points |
1/1/1982 | 68.1 points |
2/1/1982 | 67 points |
3/1/1982 | 48.3 points |
4/1/1982 | 67.3 points |
5/1/1982 | 68.1 points |
6/1/1982 | 66.9 points |
7/1/1982 | 73.7 points |
8/1/1982 | 67.7 points |
9/1/1982 | 82.6 points |
10/1/1982 | 79.6 points |
11/1/1982 | 78.9 points |
12/1/1982 | 72.4 points |
1/1/1983 | 76.9 points |
2/1/1983 | 75.9 points |
3/1/1983 | 76.9 points |
4/1/1983 | 75.9 points |
5/1/1983 | 83.7 points |
6/1/1983 | 80.4 points |
7/1/1983 | 75.9 points |
8/1/1983 | 81.9 points |
9/1/1983 | 73 points |
10/1/1983 | 71.7 points |
11/1/1983 | 65.1 points |
12/1/1983 | 61.6 points |
1/1/1984 | 63 points |
2/1/1984 | 63 points |
3/1/1984 | 65.1 points |
4/1/1984 | 58.3 points |
5/1/1984 | 44.3 points |
6/1/1984 | 39.6 points |
7/1/1984 | 40.7 points |
8/1/1984 | 41.4 points |
9/1/1984 | 33.5 points |
10/1/1984 | 42.5 points |
11/1/1984 | 38.7 points |
12/1/1984 | 39.7 points |
1/1/1985 | 41.7 points |
2/1/1985 | 46.2 points |
3/1/1985 | 47.7 points |
4/1/1985 | 42 points |
5/1/1985 | 38.2 points |
6/1/1985 | 16.7 points |
7/1/1985 | 27.2 points |
8/1/1985 | 21.7 points |
9/1/1985 | 30.4 points |
10/1/1985 | 25.5 points |
11/1/1985 | 32.8 points |
12/1/1985 | 29.5 points |
1/1/1986 | 37.8 points |
2/1/1986 | 36.2 points |
3/1/1986 | 27.5 points |
4/1/1986 | 28.4 points |
5/1/1986 | 19.1 points |
6/1/1986 | 32.4 points |
7/1/1986 | 29.7 points |
8/1/1986 | 28.6 points |
9/1/1986 | 24 points |
10/1/1986 | 25.7 points |
11/1/1986 | 26 points |
12/1/1986 | 34.5 points |
1/1/1987 | 29.2 points |
2/1/1987 | 33 points |
3/1/1987 | 23.8 points |
4/1/1987 | 7.7 points |
5/1/1987 | 8.1 points |
6/1/1987 | 23.4 points |
7/1/1987 | 23.2 points |
8/1/1987 | 21.4 points |
9/1/1987 | 23.2 points |
10/1/1987 | 28.8 points |
11/1/1987 | 8.5 points |
12/1/1987 | 32.5 points |
1/1/1988 | 10.5 points |
2/1/1988 | 1.6 points |
4/1/1988 | 10.4 points |
5/1/1988 | 22.6 points |
6/1/1988 | 18.1 points |
7/1/1988 | 24.4 points |
8/1/1988 | 20.9 points |
9/1/1988 | 22.5 points |
10/1/1988 | 12.4 points |
11/1/1988 | 17.6 points |
12/1/1988 | 4.1 points |
3/1/1989 | 0.2 points |
4/1/1989 | 0.2 points |
11/1/1989 | 2.1 points |
1/1/1990 | 9.7 points |
3/1/1990 | 13 points |
4/1/1990 | 13.5 points |
5/1/1990 | 13.8 points |
6/1/1990 | 18.5 points |
7/1/1990 | 5 points |
8/1/1990 | 1.7 points |
11/1/1990 | 6.7 points |
12/1/1990 | 11.8 points |
2/1/1991 | 26.6 points |
3/1/1991 | 39.8 points |
4/1/1991 | 40.6 points |
5/1/1991 | 51.9 points |
6/1/1991 | 59 points |
7/1/1991 | 63.2 points |
8/1/1991 | 66.7 points |
9/1/1991 | 71.7 points |
10/1/1991 | 71.5 points |
11/1/1991 | 64.6 points |
12/1/1991 | 65.4 points |
1/1/1992 | 52.1 points |
2/1/1992 | 57.2 points |
3/1/1992 | 46.8 points |
4/1/1992 | 56 points |
5/1/1992 | 56.3 points |
6/1/1992 | 66.4 points |
7/1/1992 | 52.7 points |
8/1/1992 | 54.6 points |
9/1/1992 | 56.8 points |
10/1/1992 | 55.5 points |
11/1/1992 | 60.5 points |
12/1/1992 | 53 points |
1/1/1993 | 54.7 points |
2/1/1993 | 63.9 points |
3/1/1993 | 47.3 points |
4/1/1993 | 40.1 points |
5/1/1993 | 28.4 points |
6/1/1993 | 32.1 points |
7/1/1993 | 38.4 points |
8/1/1993 | 39.7 points |
9/1/1993 | 37.2 points |
10/1/1993 | 42.3 points |
11/1/1993 | 34.5 points |
12/1/1993 | 47.1 points |
1/1/1994 | 45.5 points |
2/1/1994 | 36.1 points |
3/1/1994 | 45.5 points |
4/1/1994 | 41.8 points |
5/1/1994 | 32.5 points |
6/1/1994 | 29.1 points |
7/1/1994 | 28.9 points |
8/1/1994 | 29.7 points |
9/1/1994 | 29.7 points |
10/1/1994 | 25.9 points |
11/1/1994 | 27.3 points |
12/1/1994 | 12.3 points |
1/1/1995 | 16.6 points |
2/1/1995 | 8.7 points |
5/1/1995 | 14.8 points |
6/1/1995 | 15.3 points |
7/1/1995 | 23.4 points |
8/1/1995 | 28.5 points |
9/1/1995 | 27.4 points |
10/1/1995 | 31.6 points |
11/1/1995 | 29.3 points |
12/1/1995 | 7.3 points |
1/1/1996 | 23.2 points |
2/1/1996 | 28.2 points |
3/1/1996 | 19.8 points |
4/1/1996 | 23.7 points |
5/1/1996 | 28 points |
6/1/1996 | 41.7 points |
7/1/1996 | 38.2 points |
8/1/1996 | 25.6 points |
9/1/1996 | 23.2 points |
10/1/1996 | 21.3 points |
11/1/1996 | 18.5 points |
12/1/1996 | 32.2 points |
1/1/1997 | 26.2 points |
2/1/1997 | 27.8 points |
3/1/1997 | 23.2 points |
4/1/1997 | 23.8 points |
5/1/1997 | 15.4 points |
6/1/1997 | 18.8 points |
7/1/1997 | 14.6 points |
8/1/1997 | 17.3 points |
9/1/1997 | 24.8 points |
10/1/1997 | 28.2 points |
11/1/1997 | 29.7 points |
12/1/1997 | 26.9 points |
1/1/1998 | 18.5 points |
2/1/1998 | 15.6 points |
3/1/1998 | 27.7 points |
4/1/1998 | 22.5 points |
5/1/1998 | 23.9 points |
6/1/1998 | 6.1 points |
8/1/1998 | 5.9 points |
9/1/1998 | 2.5 points |
10/1/1998 | 2.4 points |
11/1/1998 | 10.2 points |
12/1/1998 | 17.3 points |
1/1/1999 | 26.1 points |
2/1/1999 | 25.4 points |
3/1/1999 | 22.1 points |
4/1/1999 | 22.4 points |
5/1/1999 | 24.6 points |
6/1/1999 | 12.5 points |
7/1/1999 | 9.7 points |
8/1/1999 | 20.2 points |
10/1/1999 | 10.8 points |
11/1/1999 | 21.1 points |
12/1/1999 | 27 points |
1/1/2000 | 22 points |
2/1/2000 | 20.2 points |
3/1/2000 | 8 points |
4/1/2000 | 4.1 points |
5/1/2000 | 6.7 points |
6/1/2000 | 8.3 points |
7/1/2000 | 15.9 points |
8/1/2000 | 12.8 points |
9/1/2000 | 20.6 points |
10/1/2000 | 11.4 points |
11/1/2000 | 5.9 points |
2/1/2001 | 8.7 points |
3/1/2001 | 21.8 points |
4/1/2001 | 30.9 points |
5/1/2001 | 32.9 points |
6/1/2001 | 50 points |
7/1/2001 | 34.3 points |
8/1/2001 | 36.8 points |
9/1/2001 | 43.5 points |
10/1/2001 | 47.4 points |
11/1/2001 | 42.4 points |
12/1/2001 | 46.5 points |
1/1/2002 | 58.9 points |
2/1/2002 | 54.9 points |
3/1/2002 | 57.6 points |
4/1/2002 | 54.3 points |
5/1/2002 | 54.4 points |
6/1/2002 | 53.2 points |
7/1/2002 | 50.2 points |
8/1/2002 | 39.9 points |
9/1/2002 | 41.1 points |
10/1/2002 | 49.1 points |
11/1/2002 | 44.8 points |
12/1/2002 | 49.5 points |
1/1/2003 | 39.6 points |
2/1/2003 | 27.5 points |
3/1/2003 | 48.3 points |
4/1/2003 | 49.1 points |
5/1/2003 | 47.8 points |
6/1/2003 | 51.8 points |
7/1/2003 | 58.3 points |
8/1/2003 | 58.4 points |
9/1/2003 | 62 points |
10/1/2003 | 54.9 points |
11/1/2003 | 56.5 points |
12/1/2003 | 49.7 points |
1/1/2004 | 56.2 points |
2/1/2004 | 52.4 points |
3/1/2004 | 41.4 points |
4/1/2004 | 37.5 points |
5/1/2004 | 43.8 points |
6/1/2004 | 40.5 points |
7/1/2004 | 37.7 points |
8/1/2004 | 44.8 points |
9/1/2004 | 44.4 points |
10/1/2004 | 28 points |
11/1/2004 | 47.8 points |
12/1/2004 | 36.7 points |
1/1/2005 | 28.5 points |
2/1/2005 | 26.1 points |
3/1/2005 | 36.1 points |
4/1/2005 | 27.4 points |
5/1/2005 | 21.6 points |
6/1/2005 | 30.5 points |
7/1/2005 | 14.6 points |
8/1/2005 | 25.1 points |
9/1/2005 | 7.6 points |
10/1/2005 | 19 points |
11/1/2005 | 30 points |
12/1/2005 | 39.1 points |
1/1/2006 | 30.5 points |
2/1/2006 | 30.2 points |
3/1/2006 | 22.8 points |
4/1/2006 | 24.8 points |
5/1/2006 | 17.2 points |
6/1/2006 | 5.9 points |
7/1/2006 | 12.4 points |
8/1/2006 | 2.9 points |
10/1/2006 | 14.8 points |
11/1/2006 | 16.5 points |
12/1/2006 | 16.1 points |
1/1/2007 | 24 points |
2/1/2007 | 22.8 points |
3/1/2007 | 23.3 points |
4/1/2007 | 22.7 points |
5/1/2007 | 22.8 points |
6/1/2007 | 11.3 points |
7/1/2007 | 27 points |
8/1/2007 | 30.8 points |
9/1/2007 | 32.3 points |
10/1/2007 | 38.9 points |
11/1/2007 | 21.2 points |
12/1/2007 | 21.9 points |
1/1/2008 | 10.2 points |
3/1/2008 | 5.6 points |
4/1/2008 | 10.6 points |
5/1/2008 | 20 points |
6/1/2008 | 14.3 points |
7/1/2008 | 12.6 points |
8/1/2008 | 22.2 points |
9/1/2008 | 26.5 points |
1/1/2009 | 8.8 points |
2/1/2009 | 17.3 points |
3/1/2009 | 14.4 points |
4/1/2009 | 32.6 points |
5/1/2009 | 43.8 points |
6/1/2009 | 53.1 points |
7/1/2009 | 50 points |
8/1/2009 | 55.4 points |
9/1/2009 | 47.7 points |
10/1/2009 | 41.7 points |
11/1/2009 | 41.3 points |
12/1/2009 | 33.6 points |
1/1/2010 | 41 points |
2/1/2010 | 35.9 points |
3/1/2010 | 46.4 points |
4/1/2010 | 43 points |
5/1/2010 | 40.2 points |
6/1/2010 | 39.8 points |
7/1/2010 | 28.8 points |
8/1/2010 | 26.2 points |
9/1/2010 | 26.6 points |
10/1/2010 | 41.8 points |
11/1/2010 | 47 points |
12/1/2010 | 47.1 points |
1/1/2011 | 43.7 points |
2/1/2011 | 41.9 points |
3/1/2011 | 57 points |
4/1/2011 | 35.7 points |
5/1/2011 | 26.2 points |
6/1/2011 | 8.5 points |
7/1/2011 | 28.7 points |
8/1/2011 | 12.6 points |
9/1/2011 | 18.2 points |
10/1/2011 | 26.2 points |
11/1/2011 | 36.4 points |
12/1/2011 | 33.8 points |
1/1/2012 | 43.2 points |
2/1/2012 | 30.2 points |
3/1/2012 | 30.4 points |
4/1/2012 | 39.9 points |
5/1/2012 | 24.9 points |
6/1/2012 | 25.5 points |
7/1/2012 | 21.6 points |
8/1/2012 | 20.1 points |
9/1/2012 | 31.8 points |
10/1/2012 | 17.2 points |
11/1/2012 | 16.8 points |
12/1/2012 | 22.5 points |
1/1/2013 | 28.5 points |
2/1/2013 | 31.8 points |
3/1/2013 | 35.5 points |
4/1/2013 | 30.6 points |
5/1/2013 | 39.6 points |
6/1/2013 | 37.3 points |
7/1/2013 | 41.7 points |
8/1/2013 | 38.6 points |
9/1/2013 | 49 points |
10/1/2013 | 55.6 points |
11/1/2013 | 42.2 points |
12/1/2013 | 41.3 points |
1/1/2014 | 37.1 points |
2/1/2014 | 43.6 points |
3/1/2014 | 42.2 points |
4/1/2014 | 39.3 points |
5/1/2014 | 43.9 points |
6/1/2014 | 53.5 points |
7/1/2014 | 53.9 points |
8/1/2014 | 62.1 points |
9/1/2014 | 46.3 points |
10/1/2014 | 51 points |
11/1/2014 | 50.4 points |
12/1/2014 | 47.4 points |
1/1/2015 | 53.1 points |
2/1/2015 | 34.6 points |
3/1/2015 | 37.3 points |
4/1/2015 | 39.8 points |
5/1/2015 | 38.3 points |
6/1/2015 | 43.6 points |
7/1/2015 | 40.9 points |
8/1/2015 | 35.2 points |
9/1/2015 | 37.1 points |
10/1/2015 | 35 points |
11/1/2015 | 37.7 points |
12/1/2015 | 18.6 points |
1/1/2016 | 16.6 points |
2/1/2016 | 15.2 points |
3/1/2016 | 26.2 points |
4/1/2016 | 40 points |
5/1/2016 | 40.1 points |
6/1/2016 | 37.1 points |
7/1/2016 | 37.1 points |
8/1/2016 | 42.5 points |
9/1/2016 | 37.2 points |
10/1/2016 | 36.5 points |
11/1/2016 | 30.3 points |
12/1/2016 | 44.9 points |
1/1/2017 | 52.7 points |
2/1/2017 | 48.8 points |
3/1/2017 | 54.9 points |
4/1/2017 | 46.3 points |
5/1/2017 | 41.5 points |
6/1/2017 | 39.3 points |
7/1/2017 | 40.4 points |
8/1/2017 | 43.8 points |
9/1/2017 | 53.8 points |
10/1/2017 | 47.2 points |
11/1/2017 | 48.7 points |
12/1/2017 | 48.1 points |
1/1/2018 | 42.7 points |
2/1/2018 | 37.8 points |
3/1/2018 | 44.8 points |
4/1/2018 | 43.4 points |
5/1/2018 | 44 points |
6/1/2018 | 39.2 points |
7/1/2018 | 29.2 points |
8/1/2018 | 39.2 points |
9/1/2018 | 35 points |
10/1/2018 | 33.5 points |
11/1/2018 | 28.4 points |
12/1/2018 | 25.6 points |
1/1/2019 | 26.2 points |
2/1/2019 | 25.8 points |
3/1/2019 | 21 points |
4/1/2019 | 22.7 points |
5/1/2019 | 25.6 points |
6/1/2019 | 24.4 points |
7/1/2019 | 36.2 points |
8/1/2019 | 35.5 points |
9/1/2019 | 21.7 points |
10/1/2019 | 34.8 points |
11/1/2019 | 37.4 points |
12/1/2019 | 30.3 points |
1/1/2020 | 34.7 points |
2/1/2020 | 42.1 points |
3/1/2020 | 33.4 points |
4/1/2020 | 43.3 points |
5/1/2020 | 53.1 points |
6/1/2020 | 66.2 points |
7/1/2020 | 38.5 points |
8/1/2020 | 42.9 points |
9/1/2020 | 55 points |
10/1/2020 | 65.1 points |
11/1/2020 | 47.6 points |
12/1/2020 | 34.4 points |
1/1/2021 | 47.1 points |
2/1/2021 | 36.5 points |
3/1/2021 | 57.6 points |
4/1/2021 | 67.2 points |
5/1/2021 | 56.2 points |
6/1/2021 | 68.8 points |
7/1/2021 | 50.8 points |
8/1/2021 | 38.1 points |
9/1/2021 | 18.6 points |
10/1/2021 | 26.4 points |
11/1/2021 | 32.2 points |
12/1/2021 | 14.2 points |
1/1/2022 | 24 points |
2/1/2022 | 24.4 points |
3/1/2022 | 21.5 points |
4/1/2022 | 9.2 points |
5/1/2022 | 6.1 points |
1/1/2023 | 3.3 points |
4/1/2023 | 0.4 points |
6/1/2023 | 9.2 points |
7/1/2023 | 21.6 points |
8/1/2023 | 6.2 points |
9/1/2023 | 11.7 points |
10/1/2023 | 9.6 points |
11/1/2023 | 2.7 points |
12/1/2023 | 12.6 points |
2/1/2024 | 7.2 points |
3/1/2024 | 38.6 points |
4/1/2024 | 34.3 points |
5/1/2024 | 32.4 points |
6/1/2024 | 13.8 points |
7/1/2024 | 38.7 points |
8/1/2024 | 15.4 points |
9/1/2024 | 15.8 points |
10/1/2024 | 36.7 points |
Philly Fed Business Conditions History
Date | Value |
---|---|
10/1/2024 | 36.7 Points |
9/1/2024 | 15.8 Points |
8/1/2024 | 15.4 Points |
7/1/2024 | 38.7 Points |
6/1/2024 | 13.8 Points |
5/1/2024 | 32.4 Points |
4/1/2024 | 34.3 Points |
3/1/2024 | 38.6 Points |
2/1/2024 | 7.2 Points |
12/1/2023 | 12.6 Points |
Similar Macro Indicators to Philly Fed Business Conditions
The Philadelphia Fed Manufacturing Index is derived from the Business Outlook Survey of manufacturers in the Third Federal Reserve District. Survey participants assess the direction of change in overall business activity and various metrics at their facilities, including employment, working hours, new and unfilled orders, shipments, inventories, delivery times, prices paid, and prices received. An index value above 0 signifies growth in the factory sector, while a value below 0 indicates contraction.
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What is Philly Fed Business Conditions?
The "Philly Fed Business Conditions" indicator, officially known as the Philadelphia Federal Reserve’s Manufacturing Business Outlook Survey, is a key barometer of economic health within the Third Federal Reserve District, which includes Eastern Pennsylvania, Southern New Jersey, and Delaware. Eulerpool takes pride in providing meticulously curated macroeconomic data, and the Philly Fed Business Conditions index is one of the pivotal data points we offer to economists, financial analysts, investors, and policymakers for gauging the state of manufacturing and the broader economy in this bustling region. The Philadelphia Fed Business Conditions index is based on a monthly survey of manufacturers conducted by the Federal Reserve Bank of Philadelphia. The survey collects data on the current and future pace of business activity in the region, making it an invaluable resource for those seeking to understand the underlying dynamics of the regional economy. Since its inception in 1968, this survey has evolved into one of the most closely watched economic indicators, offering a real-time snapshot of the manufacturing sector's health. Each month, approximately 150 participants from the manufacturing sector—including executives and senior managers—respond to a set of questions covering various aspects of their business, including general business activity, new orders, shipments, employment, and prices paid for raw materials. These responses are then compiled into several diffusion indexes, which distill complex economic conditions into easily interpretable metrics. The most prominent of these is the General Activity Index, which is the headline figure most often cited in media reports and economic analyses. A reading above zero in the General Activity Index indicates that manufacturing conditions are improving, while a reading below zero suggests a contraction. This clear, binary mode of interpretation makes the Philly Fed Business Conditions index an indispensable tool for market participants. Financial markets, including equities, foreign exchange, and fixed income, often react sharply to the monthly release, underscoring its significance. For example, a higher-than-expected reading can bolster investor confidence, lead to rising stock prices, and strengthen the local currency, reflecting optimism about the economy’s direction. Conversely, a lower-than-expected reading can trigger a sell-off in equities and a flight to safe-haven assets. What makes the Philly Fed Business Conditions survey particularly influential is its timeliness. Released early in the month, it offers one of the first comprehensive looks at economic activity for the current month, ahead of many national indicators like the Institute for Supply Management's Manufacturing Index and the official employment report from the U.S. Bureau of Labor Statistics. This early availability provides an invaluable "first read" on current economic conditions, allowing policymakers and business leaders to react promptly to changing economic landscapes. Moreover, the survey does not just report on current conditions but also includes forward-looking components. For instance, respondents are asked about their expectations for business conditions over the next six months, providing insights into future economic activity. This forward-looking perspective helps businesses in planning and strategy formation, policymakers in decision-making, and investors in anticipating economic trends and positioning their portfolios accordingly. At Eulerpool, we recognize the importance of contextualizing the Philly Fed Business Conditions index within broader economic narratives. Understanding the underlying factors driving changes in the index requires an appreciation of both local and global economic contexts. For the Third Federal Reserve District, industries such as pharmaceuticals, chemicals, electronic equipment, and food manufacturing play significant roles. Fluctuations in these industries, driven by factors ranging from global supply chain disruptions to local regulatory changes, can significantly impact the survey’s findings. For example, in times of economic turmoil such as recessions or global financial crises, the Philly Fed Business Conditions index often mirrors the broader trends of economic distress. During the COVID-19 pandemic, for instance, the index plummeted to historically low levels as factories shut down and demand evaporated. Conversely, during periods of robust economic growth, the index often reaches high positive values, signaling expansion in manufacturing activity and overall economic vitality. However, this indicator is not without its limitations. The Philly Fed Business Conditions survey focuses primarily on manufacturing, a sector that, while vital, represents only a portion of the economy. Other sectors such as services, retail, and construction also substantially contribute to economic health, and their activities are not directly captured by this survey. Therefore, it is crucial to use this index in conjunction with other economic indicators to form a comprehensive view of the economic landscape. At Eulerpool, we strive to enhance the usability of the Philly Fed Business Conditions data by offering sophisticated visualization tools and analytical capabilities. Users can track trends over time, compare the data against other regional and national indicators, and incorporate it into broader economic models. By providing high-quality, easily accessible economic data, we empower our users to make informed decisions grounded in robust empirical evidence. In conclusion, the Philly Fed Business Conditions index is an essential component of our macroeconomic data offerings at Eulerpool. Its timely release, clear interpretability, and forward-looking nature make it a critical tool for understanding regional economic conditions and anticipating future economic trends. By providing detailed and contextualized data, Eulerpool ensures that economists, analysts, and decision-makers have the insights they need to navigate the complexities of today’s economic landscape.