Service providers to low- and moderate-income (LMI) households in the region report that job availability for their clients improved for the third consecutive quarter, according to the Bank’s First Quarter 2013 Community Outlook Survey. At the same time, these service providers see worsened financial conditions for their clients. Read the survey.
The Bank has released the coincident indexes, which measure current economic activity in each of the 50 states. In April, the indexes increased in 45 states; over the past three months, the indexes increased in 47 states. Read the report.
Manufacturing firms responding to the Bank’s Business Outlook Survey reported weakened business activity. The survey’s index of current activity decreased to -5.2 in May from 1.3 in April. Future indicators suggest that respondents remain optimistic about business activity over the next six months. Read the report. Watch the press conference.
President Charles I. Plosser speaks in Milan, Italy and gives his outlook for the U.S. economy. His remarks are similar to the speech given May 14, 2013, and include a review of key principles, which he first outlined in March 2011, to guide the Fed's eventual exit from its highly accommodative policies. His exit proposal is largely consistent with the FOMC's strategy released in June 2011. Read the speech.
Participants in the Bank's Second Quarter Survey of Professional Forecasters see healthier conditions in the labor market and an outlook for growth that is nearly unchanged from the forecasts of three months ago. Read the survey.
The Federal Reserve Board of Governors has announced that the redesigned $100 note will go into circulation on October 8, 2013. The new $100 notes are more colorful and carry added security features designed to deter counterfeiting. Read the press release. Go to the new money website for more information.
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.
Predict the six-month growth rate of the state's coincident index.
Combine four state-level indicators to summarize current economic conditions in a single statistic.
Designed to track real macroeconomic activity at high frequency. Last updated on May 23, 2013.
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