Activity in the region's nonmanufacturing sectors continued to grow in November, according to firms responding to this month's Nonmanufacturing Business Outlook Survey. The percentage of firms reporting increases in activity exceeded the percentage of firms reporting decreases. The diffusion index for current activity at the firm level decreased from 44.1 in October to 41.2 this month.
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The Bank has released the coincident indexes, which measure current economic activity in each of the 50 states. In October, the indexes increased in 47 states, decreased in one, and remained stable in two. Read the report.
Manufacturing activity increased in November, according to firms responding to the latest Manufacturing Business Outlook Survey. The diffusion index of current activity increased notably from 20.7 in October to 40.8 this month. Read the report. Listen to the audio conference.
The Bank announced that Michelle M. Scipione was recently appointed to the position of vice president and general auditor by the Audit Committee of the Bank's board of directors. Read the press release.
The outlook for growth in the U.S. economy over the next four years is little changed from that of three months ago, according to 42 participants in the Fourth Quarter Survey of Professional Forecasters. Survey participants see an improved outlook for the unemployment rate as well as lower inflation. Read the report.
President Charles Plosser gives his views on the debate about a new normal for economic growth in the U.S. economy. He also discusses the question of future productivity growth and highlight research in this area. Read the speech.
The Bank has announced new appointments to its Community Depository Institutions Advisory Council. The council, composed of representatives from commercial banks, thrift institutions, and credit unions, shares insights on economic and business trends facing community depository institutions in their local markets. Read the press release.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government. One of the 12 regional Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware. Learn more about us.
A monthly survey of manufacturers in the Third Federal Reserve District.
A monthly survey of nonmanufacturers in the Third Federal Reserve District.
Combine four state-level indicators to summarize current economic conditions in a single statistic.
Predict the six-month growth rate of the state's coincident index.
Designed to track real macroeconomic activity at high frequency. Last updated on November 25, 2014.