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News & Advisories

Business Conditions Index Updated

January 23, 2020 — The Federal Reserve Bank of Philadelphia’s Real-Time Data Research Center has updated the ADS business conditions index with information on initial jobless claims for the week ending 1/18/2020.

Nonmanufacturing Firms Report Overall Growth in January

January 21, 2020 — Responses to the January Nonmanufacturing Business Outlook Survey suggest continued expansion in nonmanufacturing activity in the region. The diffusion index for current general activity at the firm level rose 14 points, from a revised reading of 9.1 in December to 23.5 in January. Overall, the respondents continue to expect growth over the next six months in their own firms and in the region. Read the report.

Fed President Patrick Harker Holds Economic Outlook Steady

January 17, 2020 — Fed President Patrick T. Harker said he expects the U.S. economy to grow around 2 percent in 2020, indicating no change from his outlook of recent months. Speaking at the 2020 Economic Leadership Forum hosted by the New Jersey Bankers Association, Harker discussed his view of the labor markets and inflation as well as recent developments in the Fed’s balance sheet normalization process and efforts to modernize the Community Reinvestment Act. Read the press release. Read the speech.

Philadelphia Fed Survey: Chamber of Commerce for Greater Philadelphia Members Optimistic About Business Conditions in 2020

January 17, 2020 — 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 2020. For more information, view the press release.

Current Manufacturing Indicators Suggest Growth in January

January 16, 2020 — Manufacturing activity in the region increased this month, according to results from the January Manufacturing Business Outlook Survey. The diffusion index for current general activity increased nearly 15 points this month, from a revised reading of 2.4 in December to 17.0. The survey’s future activity indexes remained at relatively high readings, suggesting continued optimism about growth for the next six months. Read the report.

Beige Book Released Today

January 15, 2020 — On balance, business activity in the Third District slowed to a slight pace of growth during the current Beige Book period. Labor markets remained tight throughout the District – slowing employment growth and raising wage pressure. Still, price increases remained modest. Most firms expressed cautious optimism. Read the national summary.   Read the Philadelphia summary.

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