Economic Report Archives | Email alerts

Aug. 18, 2022, 8:52 a.m. EDT

Philadelphia Fed’s manufacturing gauge recovers in August

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dow Jones Industrial Average (DJIA)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Greg Robb

The numbers: The Philadelphia Federal Reserve said Thursday its gauge of regional business activity rose to 6.2 in August from negative 12.3 in the prior month. Any reading above zero indicates improving conditions. 

Economists polled by the Wall Street Journal expected a negative 0.5 reading.

Key details: The index for new orders climbed 20 points but remained at negative 5.1 in August. The shipments index rose 10 points to 24.8.

Prices moderated for the fourth month but the index continues to indicate price increases.

On balance, firms reported an increase in employment.

Big picture: The Philadelphia Fed index is one of several regional manufacturing gauges that offer timely reads of the manufacturing sector.

Earlier this week, the similar Empire State survey released by the New York Fed showed manufacturing activity worsened significantly, with the business conditions index plunging 42.4 points to negative 31.1 in July, the fifth lowest reading on record.

Market reaction: Futures on U.S. stocks /zigman2/quotes/210598065/realtime DJIA +0.24% /zigman2/quotes/210599714/realtime SPX +0.55% trimmed gains after the data was released.

US : Dow Jones Global
+80.57 +0.24%
Volume: 0.00
Oct. 4, 2023 12:54p
+23.15 +0.55%
Volume: 0.00
Oct. 4, 2023 12:54p

This Story has 0 Comments
Be the first to comment
More News In
Economy & Politics

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.