The Bank has released the July 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 regional nonmanufacturing activity in August improved somewhat but remained subdued, according to firms responding to the latest Nonmanufacturing Business Outlook Survey. Firms also reported increases in new orders, sales, and employment, overall. Read the report.
Responses from 38 service providers to low- and moderate-income (LMI) households in the region suggest that job availability continued to improve for the fifth consecutive quarter, according to the Bank’s Second Quarter 2015 Community Outlook Survey. Additionally, LMI households’ financial well-being, access to credit, and availability of affordable housing reflected gradual stabilization. Read the Community Outlook Survey.
Manufacturing activity improved in August, according to firms responding to the latest Manufacturing Business Outlook Survey. The diffusion index of current activity increased from 5.7 in July to 8.3 this month. Read the report.
Why has labor’s share of national income been declining steeply? Why are more college-educated workers gravitating to large metropolitan areas? And the inaugural Banking Trends explores why small banks in the tristate area differ from those elsewhere. Download the entire issue.
Small banks headquartered in the tristate area differ from small banks in other regions of the country in some puzzling ways. In the debut issue of Banking Trends, James DiSalvo and Ryan Johnston examine what regional market forces may affect bankers here. Download the issue.
The outlook for growth in the U.S. economy over the next four years looks slightly lower from that of three months ago, according to the 42 participants in the Third Quarter Survey of Professional Forecasters. Their outlook for the labor market remains nearly unchanged, and the panel expects real GDP to grow at an annual rate of 2.7 percent this quarter and 2.8 percent next quarter.
The Philadelphia Fed has appointed Patricia A. Wilson as vice president, chief of staff, and corporate secretary. Wilson manages the Office of the President and its relationships and activities, oversees the Office of the Secretary, and supports a range of Bank- and Federal Reserve System-wide initiatives. Read the release.
The Philadelphia Fed has announced the promotions of Stephen G. Hart to vice president in the Human Resources Department and Keith Morales to vice president and information security officer in the Information Technology Services Department. Read the release.
Patrick T. Harker took office as the 11th president and CEO of the Federal Reserve Bank of Philadelphia on July 1, 2015. In this role, Harker leads the Philadelphia Fed and participates on the Federal Open Market Committee, which formulates the nation’s monetary policy. Read his bio.
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 August 27, 2015.