- Prior was +10.3
Details:
- New orders xx versus 27.3 last month
- Shipments xx versus 14.9 last month
- Unfilled orders xx versus 10.5 last month
- Delivery times xx versus 10.8 last month
- Inventories xx versus 23.0 last month
- Prices paid xx versus 53.2 last month
- Prices received xx versus 20.3 last month
- Number of employees xx versus 7.9 last month
- Average employee workweek xx versus -6.5 last month
Six-months from now indicators:
- 6 month index xx vs 50.2 last month
- Capex index 6-month forward xx versus 41.2 last month
- New orders xx versus 60.8 last month
- Shipments xx versus 60.3 last month
- Unfilled orders xx versus 17.3 last month
- Delivery times xx versus 2.5 last month
- Inventories xx versus 10.0 last month
- Prices paid xx versus 63.2 last month
- Prices received xx versus 67.2 last month
- Number of employees xx versus 30.8 last month
- Average employee workweek xx versus 34.3 last month
Manufacturing activity in the region expanded overall, according to the firms responding to the June Manufacturing Business Outlook Survey. The survey’s indicators for general activity and new orders rebounded into positive territory this month. The shipments index moved higher. The employment index also returned to positive territory, although most firms continued to report no changes in employment overall. The prices paid index rose this month, while the prices received index moved down. The firms continue to expect overall growth over the next six months.
What is the Philly Fed Index?
The Philadelphia Fed Manufacturing Survey, also known as the Philly Fed Index, is one of the earliest monthly indicators of manufacturing sector health in the United States. Published by the Federal Reserve Bank of Philadelphia, it surveys manufacturers in the Third Federal Reserve District, covering eastern Pennsylvania, southern New Jersey, and Delaware. Readings above zero indicate expanding activity, while readings below zero signal contraction. The survey is closely watched by economists and market participants because it often serves as a leading indicator for the national ISM Manufacturing Index released later each month.
This article was written by Giuseppe Dellamotta at investinglive.com.
