Philadelphia Federal Reserve Business Outlook

The Philly Fed Business Outlook Survey’s Positive Surprise

by Glenn Busch December 15, 2011
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The Empire State Manufacturing Index is not the only regional manufacturing report out today nor is it the only one with a positive surprise. The Philadelphia Federal Reserve Business Outlook Survey was released today too and it showed a strong gain as well. The diffusion index of current activity, the survey’s broadest measure of manufacturing conditions, remained positive for the third consecutive month and increased from 3.6 in November to 10.3 (see Chart).

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The Philadelphia Federal Reserve Business Outlook Survey is Positive

by Glenn Busch October 20, 2011
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After months of bad news and negative numbers the October Business Outlook Survey from the Federal Reserve Bank of Philadelphia comes back strong with a positive number. The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, increased from ‐17.5 in September to 8.7, the first positive reading in three months (see Chart).

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Philadelphia Federal Reserve’s Business Survey Still Contracting

by Glenn Busch September 15, 2011
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The survey’s broadest measure of manufacturing conditions, the diffusion index of current activity, increased from a very low reading of -30.7 in August to ‐17.5 in September. The index has been negative in three of the last four months (see Chart).

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The Big Miss for The August Philly Fed Business Outlook

by Glenn Busch August 19, 2011
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A day late but the implications are still important. The Philadelphia Federal Reserve released their Business Outlook Survey yesterday and it was a big miss. It fell from a positive 3.2 in July to a -30.7 in August. Everything was weak in the report.

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Philadelphia Federal Reserve Business Outlook Positive in July

by Glenn Busch July 21, 2011
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Anything above zero is expansionary for this diffusion index.The positive print is a welcome break from the previous two negative prints by the Philadelphia Federal Reserve Business Outlook Survey. However, the key component is always New Orders. The demand for manufactured goods, as measured by the current new orders index, improved from last month but suggests flat demand:

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More Signs of Industrial Slow Down

by Glenn Busch June 16, 2011
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Like the national ISM, new orders are a key gauge for a regional index like the Philadelphia Business Outlook. The demand for manufactured goods, as measured by the current new orders index, showed a similar decline: The index fell 13 points and recorded its first negative reading since last October.

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