Regional manufacturing index that covers Pennsylvania, New Jersey and Delaware. This region represents a reasonable cross section of national manufacturing activities.
Importance:
Readings above 50 percent indicate an expanding factory sector, while values below 50 are indicative of contraction. Along with the Chicago Purchasing Manager's Index, helps to forecast the results of the much more closely watched ISM index. The ISM index is a leading indicator of overall economic activity.
Source:
The Philadelphia Federal Reserve Bank.
Availability:
Third Thursday of the month at 10:00am ET. Data for the current month.
Frequency:
Monthly.
Revisions:
New seasonal adjustment factors are introduced near the beginning of each year. The significance of these revisions is moderate.
