The Philadelphia Fed Manufacturing Index in the US plunged to -16.4 in December 2024, its lowest level since April 2023, from -5.5 in November and way below expectations of 3, signaling a further weakening in regional manufacturing activity. The indexes for new orders (-4.3 vs 8.7 in November) and shipments (-1.9 vs 4.1) both turned negative, reflecting softer demand. The employment index edged down but remained positive (6.6 vs 8.6), indicating continued, albeit slower, job gains. Meanwhile, the prices paid index rose to 31.2, showing elevated input costs, while the prices received index fell to 7.3, marking its third consecutive decline. Firms remained optimistic about future growth despite the pullback, with the index for future general activity at 30.7, though down from the prior month’s 36.7. source: Federal Reserve Bank of Philadelphia

Philadelphia Fed Manufacturing Index in the United States decreased to -16.40 points in December from -5.50 points in November of 2024. Philadelphia Fed Manufacturing Index in the United States averaged 8.81 points from 1968 until 2024, reaching an all time high of 58.50 points in March of 1973 and a record low of -58.40 points in April of 2020. 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 January of 2025.

Philadelphia Fed Manufacturing Index in the United States decreased to -16.40 points in December from -5.50 points in November of 2024. Philadelphia Fed Manufacturing Index in the United States is expected to be 7.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-11-21 01:30 PM
Philadelphia Fed Manufacturing Index
Nov -5.5 10.3 8 11
2024-12-19 01:30 PM
Philadelphia Fed Manufacturing Index
Dec -16.4 -5.5 3 3
2025-01-16 01:30 PM
Philadelphia Fed Manufacturing Index
Jan -16.4 -10

Components Last Previous Unit Reference
Philly Fed Business Conditions 30.70 56.60 points Dec 2024
Philly Fed CAPEX Index 18.80 24.90 points Dec 2024
Philly Fed Employment 6.60 8.60 points Dec 2024
Philly Fed New Orders -4.30 8.90 points Dec 2024
Philly Fed Prices Paid 31.20 26.60 points Dec 2024

Related Last Previous Unit Reference
Coincident Index 145.40 145.40 points Oct 2024
Leading Economic Index 99.70 99.50 points Nov 2024
Philadelphia Fed Manufacturing Index -16.40 -5.50 points Dec 2024

United States Philadelphia Fed Manufacturing Index
Philadelphia Fed Manufacturing Index is based on The Business Outlook Survey of manufacturers in the Third Federal Reserve District. Participants report the direction of change in overall business activity and in the various measures of activity at their plants: employment, working hours, new and unfilled orders, shipments, inventories, delivery times, prices paid, and prices received. The index above 0 indicates factory-sector growth, below 0 contraction.
Actual Previous Highest Lowest Dates Unit Frequency
-16.40 -5.50 58.50 -58.40 1968 - 2024 points Monthly
SA


News Stream
Philadelphia Factory Activity Plunges Unexpectedly
The Philadelphia Fed Manufacturing Index in the US plunged to -16.4 in December 2024, its lowest level since April 2023, from -5.5 in November and way below expectations of 3, signaling a further weakening in regional manufacturing activity. The indexes for new orders (-4.3 vs 8.7 in November) and shipments (-1.9 vs 4.1) both turned negative, reflecting softer demand. The employment index edged down but remained positive (6.6 vs 8.6), indicating continued, albeit slower, job gains. Meanwhile, the prices paid index rose to 31.2, showing elevated input costs, while the prices received index fell to 7.3, marking its third consecutive decline. Firms remained optimistic about future growth despite the pullback, with the index for future general activity at 30.7, though down from the prior month’s 36.7.
2024-12-19
Philadelphia Factory Activity Unexpectedly Shrinks
The Philadelphia Fed Manufacturing Index in the US unexpectedly declined to -5.5 in November 2024 from 10.3 in October, and well below forecasts of 8. It is the second negative reading since January, in a sign manufacturing activity in the region softened overall. The indexes for new orders (8.9 vs 14.2) and shipments (4.5 vs 7.4) declined but remained positive. The employment index turned positive (8.6 vs -2.2), suggesting an increase in employment overall. Both price indexes indicate overall increases in prices and remain near their long-run averages. Meanwhile, firms continue to expect growth over the next six months, with growth expectations reaching the highest since June 2021 (56.6 vs 36.7).
2024-11-21
Philadelphia Factory Activity Expands More than Forecast
The Philadelphia Fed Manufacturing Index in the US soared to 10.3 in October 2024, a significant jump from September's 1.7 and surpassing the expected 3. Current general activity, new orders, and shipments all experienced growth, with new orders and shipments returning to positive levels. However, the employment index decreased, indicating stable employment conditions. Price indexes slightly decreased, yet still point to overall price increases. Future growth expectations for the next six months improved, as most indicators rose, signaling widespread optimism.
2024-10-17