The Bank has released the October state coincident indexes, which measure current economic activity in each of the 50 states. This month’s coincident indexes suggest expansion in 43 states. Read the report.
The pace of activity in the region’s nonmanufacturing sectors remained positive in November, according to firms responding to this month's Nonmanufacturing Business Outlook Survey. The diffusion index for current activity at the firm level rose 9 points, to 26.3, in November. Responding firms remain optimistic about nonmanufacturing activity increasing in the region and at their firms over the next six months. Read the report.
Manufacturing conditions in the region showed slight improvement in November, according to firms responding to this month’s Manufacturing Business Outlook Survey. The diffusion index of current activity edged higher this month, from -4.5 in October to 1.9. Read the report.
Growth in real GDP in 2016 and 2017 looks a little slower now than it did three months ago, according to the 45 participants in the Fourth Quarter Survey of Professional Forecasters. Their outlook for the labor market has improved, and the panel expects real GDP to grow at an annual rate of 2.6 percent this quarter and 2.5 percent next quarter. Read the report.
The Federal Reserve Bank of Philadelphia has named Deborah L. Hayes as senior vice president of Corporate Affairs effective January 4, 2016. Hayes will oversee the Public Affairs, Financial Institutions Relations, and Community Development Studies & Education departments. She will also direct the Bank’s outreach efforts to legislative, business, banking, and community groups and will manage the Bank’s Economic Advisory Council. Read the release.
The Bank is changing the release time of the Manufacturing Business Outlook Survey from 10 a.m. to 8:30 a.m. ET, starting on November 19, 2015. The data release will remain on the third Thursday of every month and will only be published on the Bank’s website. A newswire service will no longer be used to augment distribution. Read the release.
Articles explore why some things are sold using negotiable asking prices and how commuting patterns define a metro area. And the inaugural issue of Banking Policy Review describes how new rules are altering over-the-counter derivatives trading. Download the entire issue.
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, 2015.