Philadelphia Fed Survey in United States

Federal Reserve Bank of Philadelphia · Monthly · Importance

47.4 (Aug-26) ABS · points · Monthly · CSV

Recessions COVID recession

Period	points
Aug 2026	47.4
Jul 2026	41.4
Jun 2026	10.3
May 2026	-0.4
Apr 2026	26.7
Mar 2026	18.1
Feb 2026	16.3
Jan 2026	12.6
Dec 2025	-8.8
Nov 2025	0.6
Oct 2025	-10.1
Sep 2025	19.5
Aug 2025	0.7
Jul 2025	11.4
Jun 2025	-1.4
May 2025	-0.7
Apr 2025	-12.9
Mar 2025	10.2
Feb 2025	13.4
Jan 2025	32.9
Dec 2024	-9.6
Nov 2024	-1.5
Oct 2024	7.6
Sep 2024	-1.6
Aug 2024	-3.0
Jul 2024	9.9
Jun 2024	2.9
May 2024	7.5
Apr 2024	17.6
Mar 2024	1.8
Feb 2024	-1.0
Jan 2024	-14.7
Dec 2023	-7.2
Nov 2023	-3.9
Oct 2023	-14.6
Sep 2023	-15.2
Aug 2023	10.5
Jul 2023	-16.1
Jun 2023	-12.1
May 2023	-8.1
Apr 2023	-25.5
Mar 2023	-25.0
Feb 2023	-22.2
Jan 2023	-12.4
Dec 2022	-11.4
Nov 2022	-13.4
Oct 2022	-11.5
Sep 2022	-8.3
Aug 2022	4.1
Jul 2022	-8.1
Jun 2022	-1.9
May 2022	4.7
Apr 2022	16.8
Mar 2022	20.8
Feb 2022	15.9
Jan 2022	18.3
Dec 2021	17.1
Nov 2021	44.0
Oct 2021	21.5
Sep 2021	32.2

Period	points
Dec 1999	-6.7
Nov 1999	4.9
Oct 1999	2.1
Sep 1999	0.1
Aug 1999	4.0
Jul 1999	4.0
Jun 1999	-7.3
May 1999	-7.5
Apr 1999	16.3
Mar 1999	-10.8
Feb 1999	1.3
Jan 1999	9.2
Dec 1998	9.3
Nov 1998	-8.2
Oct 1998	17.7
Sep 1998	-24.6
Aug 1998	2.1
Jul 1998	-15.8
Jun 1998	10.9
May 1998	4.5
Apr 1998	-1.9
Mar 1998	-2.6
Feb 1998	-5.4
Jan 1998	3.0
Dec 1997	-4.2
Nov 1997	0.5
Oct 1997	0.2
Sep 1997	1.9
Aug 1997	-3.0
Jul 1997	2.2
Jun 1997	16.9
May 1997	-5.4
Apr 1997	-6.9
Mar 1997	-3.5
Feb 1997	4.1
Jan 1997	4.7
Dec 1996	-3.0
Nov 1996	2.9
Oct 1996	-4.7
Sep 1996	-0.9
Aug 1996	-15.7
Jul 1996	8.5
Jun 1996	1.4
May 1996	-1.7
Apr 1996	24.8
Mar 1996	-8.3
Feb 1996	19.5
Jan 1996	-34.3
Dec 1995	14.1
Nov 1995	-16.2
Oct 1995	-4.5
Sep 1995	25.0
Aug 1995	21.6
Jul 1995	0.3
Jun 1995	-12.2
May 1995	2.7
Apr 1995	-13.2
Mar 1995	-7.2
Feb 1995	0.4
Jan 1995	-14.5

Period	points
Dec 1999	9.6
Nov 1999	25.6
Oct 1999	12.5
Sep 1999	28.1
Aug 1999	3.4
Jul 1999	1.5
Jun 1999	-18.3
May 1999	-0.1
Apr 1999	11.9
Mar 1999	-6.3
Feb 1999	1.9
Jan 1999	-4.8
Dec 1998	-11.0
Nov 1998	-24.5
Oct 1998	-15.8
Sep 1998	-33.3
Aug 1998	-6.8
Jul 1998	-11.9
Jun 1998	6.1
May 1998	12.1
Apr 1998	2.2
Mar 1998	-2.8
Feb 1998	-3.7
Jan 1998	5.8
Dec 1997	7.5
Nov 1997	8.7
Oct 1997	11.1
Sep 1997	6.2
Aug 1997	3.4
Jul 1997	-9.3
Jun 1997	-3.0
May 1997	-18.5
Apr 1997	-14.8
Mar 1997	16.9
Feb 1997	12.1
Jan 1997	27.5
Dec 1996	-11.5
Nov 1996	5.6
Oct 1996	-13.5
Sep 1996	-13.3
Aug 1996	12.6
Jul 1996	49.9
Jun 1996	41.7
May 1996	28.1
Apr 1996	32.5
Mar 1996	-5.5
Feb 1996	-4.4
Jan 1996	-23.5
Dec 1995	-3.7
Nov 1995	-19.2
Oct 1995	-4.4
Sep 1995	7.8
Aug 1995	-17.3
Jul 1995	-38.2
Jun 1995	-45.7
May 1995	-30.6
Apr 1995	-28.0
Mar 1995	-17.8
Feb 1995	-12.0
Jan 1995	-18.4

About this indicator

Source

Philadelphia Fed

Frequency

Monthly

Release

Third Thursday of each month, for the current month. (12:30 GMT)

What it is

It is a business confidence indicator third of the twelve federal districts, which reveals the direction of change in economic activity and in certain areas of it. Conducted since May 1968, having information from this periodo.Los entrepreneurs answer questions about employment, weekly working hours, new orders, backlogs of work, paid between other prices.

How it's calculated

It is based on a survey in which each question has three possible answers: increases / equal / reductions. Subsequently, the percentage of responses indicating "increases" they represent "decreases" is subtracted. All this in terms of the current situation and the outlook for the next six months.

Market implications

It is a good indicator of the economic situation both now and future. It serves to better understand changes in the economy nationwide. The manufacturing industry is very sensitive to changes in the economic climate so that variation in production is usually faster and more intense than that of the national economy.

Limitations

Data can be modified to be reviewed so caution should be exercised when interpreting them.