January 18, 2019 — At the heart of the economic mobility conversation are issues that matter to all of Philadelphia and issues that affect the city’s collective future, said Patrick T. Harker, president and CEO of the Federal Reserve Bank of Philadelphia. He made these remarks at a conference that looked at the components of economic mobility. Read the press release. Read the speech.
January 17, 2019 — Manufacturing activity in the region continued to grow, according to results from the January Manufacturing Business Outlook Survey. The index for current manufacturing activity in the region increased from a revised reading of 9.1 in December to 17.0 this month. The firms are generally optimistic about future growth and employment. Read the report.
January 16, 2019 — Economic activity in the Third District maintained a modest pace of growth, although further slowing occurred among service sectors and some real estate activity declined. Lack of qualified labor continued to constrain hiring and raise wage pressures. Price increases remained modest. Nevertheless, firms remained generally positive about the six-month outlook. Read the national summary. Read the Philadelphia summary.
January 16, 2019 — Responses to the Philadelphia Fed's annual economic outlook survey of members of the Chamber of Commerce for Greater Philadelphia were mostly optimistic about regional business conditions in 2019. Read the press release.
January 15, 2019 — The Bank has released the annual revisions to the historical data that are generated by the Nonmanufacturing Business Outlook Survey, which asks nonmanufacturing executives in the Third District about business activity in their firms every month. In January of each year, the Bank revises the data after calculating new seasonal adjustment factors. Read the report.