Definition: This index reflects a survey of manufacturers from the Philadelphia (USA) area about their attitudes towards the current economic climate.
Description: The Philadelphia Fed Index is based on the responses of roughly 100 Philadelphia-area manufacturers and reflects how they feel about the current economic situation and where they think the economy is heading in the next six months. A reading below 0 may point towards a slowdown in the US economy. The Philadelphia index comes out just before the ISM (Institute for Supply Management) index and is often looked to as a valuable predictor of ISM results.
Influence: An increase in this index may lead to a strengthening of the US dollar.
Market Impact: Low
Released: The third Thursday of every month at 15:00 GMT
Source: The Federal Reserve Bank of Philadelphia (USA)