Forex Dictionary

Philly Fed Manufacturing Index

Philly Fed Manufacturing Index

Measures level of a diffusion index based on surveyed manufacturers in Philadelphia. Above 0.0 indicates improving conditions, below indicates worsening conditions. This is released a few days after the Empire State Manufacturing Index which tends to dull it's impact. It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.