Monitor the US Philly Fed Manufacturing Index, a key gauge of economic health signaling future business activities.
This is a key indicator of economic health, as businesses tend to respond quickly to market changes. Shifts in their sentiment can serve as an early warning for future economic activities like spending, hiring, and investment. A reading above 0.0 signifies improving conditions, while a reading below indicates deteriorating conditions.
What it Measures
This reflects the level of a diffusion index derived from surveys conducted with manufacturers in Philadelphia.
Usual Effect
When the 'Actual' figure exceeds the 'Forecast', it is considered favorable for the currency.
Source & Frequency
Federal Reserve Bank of Philadelphia (latest release) - https://www.philadelphiafed.org/ • This data is released monthly, specifically on the third Thursday of each month.
How Data is Derived
Survey of about 250 manufacturers in the Philadelphia Federal Reserve district which asks respondents to rate the relative level of general business conditions
Also Known As
Philadelphia Fed Business Outlook Survey
Acronym
N/A