Philadelphia Fed Survey,
Definition of Philadelphia Fed Survey:
A survey related to business outlook that tracks conditions in the manufacturing industry in the Philadelphia Federal Reserve district. It is a trend indicator that is correlated with the Institute for Supply Management index and the index for industrial production. The Philadelphia Fed Survey is also referred to as the Philly Fed Survey.
The Philadelphia Fed Survey tracks the manufacturing conditions in Third Federal Reserve District of the United States, which encompasses Eastern Pennsylvania, Southern New Jersey and Delaware. The Survey is conducted by the Federal Reserve Bank of Philadelphia. Each month, the Bank sends a voluntary questionnaire to manufacturers in its region. Participants are asked to indicate the direction of change over the last month in their overall business activity by reporting on various measures. These measures include employment, working hours, new and unfilled orders, shipments, inventories, delivery times and prices. Participants are also asked how they expect their business to change over the next six months. Some months may have additional special questions, focused on a topic relevant to the current market environment. The results of this survey are compiled by the Federal Reserve Bank of Philadelphia into its Manufacturing Business Outlook Survey, and this document is what is commonly referred to as the Philadelphia Fed Survey.
The Philadelphia Fed Survey, officially known as the Philadelphia Federal Reserve Bank’s Manufacturing Business Outlook Survey, is a survey that tracks regional manufacturing conditions in the Northeastern United States. The intention of the survey is to provide a snapshot of current manufacturing activity in this region, as well as provide a short term forecast of manufacturing conditions in the area, which may provide an indication of conditions throughout the United States. It is also known as the Philadelphia Fed Index.
Meaning of Philadelphia Fed Survey & Philadelphia Fed Survey Definition