Philly Fed Manufacturing
US factory monitor built on the Philadelphia Fed manufacturing survey · monthly · not ISM. Research tool only — not financial advice (NFA).
Philly Fed Manufacturing
Current general activity, seasonally adjusted, monthly since May 1968. Diffusion index: % of firms reporting higher activity minus % reporting lower.
This is the Philadelphia Fed manufacturing survey, not the ISM Manufacturing PMI. ISM data is licensed and not shown here. Readings are a diffusion index centred on zero.
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≥+25 hot market · 0 expansion line · −10 to <0 neutral / sluggish · <−10 recessionary / weak
Levels converted from ISM-style reference lines (60 / 50 / 46) with diffusion-index arithmetic (Philly ≈ 2 × (ISM-style − 50)), rounded: ISM-style 60 converts to about +20, with the Hot market line set at +25 to allow for the noisier single-question survey (about 19% of months since 1968); 46 converts to about −8, rounded to −10. Not official thresholds.
States: ≥+25 Hot market (manufacturing strong · bull-market backdrop) · 0 to <+25 Expansion · −10 to <0 Neutral / sluggish (manufacturing contracting, not automatically NBER recession) · <−10 Recessionary / weak. Grey bands: NBER US recessions. Dotted cyan line: latest reading.
Source: Federal Reserve Bank of Philadelphia, Manufacturing Business Outlook Survey, via FRED (GACDFSA066MSFRBPHI). As of —. View on FRED →
Regional survey of manufacturers in the Philadelphia Fed district (eastern Pennsylvania, southern New Jersey and Delaware). Survey page → FRED® is a registered trademark of the Federal Reserve Bank of St. Louis. No endorsement implied.
Research tool. Not financial advice. Length of slumps is not a forecast date.