Explore This Section

News & Advisories

Current Indicators Suggest Nonmanufacturing Activity Expanded in March

March 26, 2019 — Responses to the March Nonmanufacturing Business Outlook Survey suggest a continued return to expansion in nonmanufacturing activity in the region. The diffusion index for current general activity at the firm level rose 9 points to 38.3 in March. The respondents remain optimistic about growth over the next six months in their own firms and in the region. Read the report.

Fed’s Harker Discusses U.S. and Global Economy, Monetary Policy in Frankfurt

March 26, 2019 — Philadelphia Fed President Patrick Harker discussed the U.S. and global economies and the Fed’s monetary policy outlook at the Official Monetary and Financial Institutions Ninth Economists’ Meeting in Frankfurt, Germany. Regarding unwinding the balance sheet, Harker said a "slow and steady approach" that leads to a gradual decrease in average reserves is “not only the safer option, it has the additional advantage of reducing uncertainty. ..." Read the speech.

Fed’s Harker Discusses U.S. and Global Economy, Monetary Policy in London

March 25, 2019 — Philadelphia Fed President Patrick Harker discussed the U.S. and global economies and the Fed’s monetary policy outlook at the Official Monetary and Financial Institutions Forum in London. Regarding unwinding the balance sheet, Harker said a “slow and steady approach” that leads to a gradual decrease in average reserves is “not only the safer option, it has the additional advantage of reducing uncertainty. …” Read the press release.

Forecasters See Lower Near-Term Output Growth

March 22, 2019 — The U.S. economy looks weaker now in the next few quarters than it did four months ago, according to 38 forecasters responding to the First Quarter Survey of Professional Forecasters. The forecasters predict real GDP will grow at an annual rate of 1.5 percent this quarter and 2.4 percent next quarter. On the employment front, the panelists see somewhat stronger growth this year than they predicted previously. Read the report.

Business Conditions Index Updated

March 21, 2019 — 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 3/16/2019.

Regional Manufacturing Activity Improved in March

March 21, 2019 — Manufacturing conditions in the region improved this month, according to firms responding to the March Manufacturing Business Outlook Survey. The index for current manufacturing activity in the region increased from a reading of -4.1 in February to 13.7 this month. Most of the survey’s indexes for future conditions continued to moderate, but the firms remained generally optimistic about growth over the next six months. Read the report.

Media Contacts

Daneil Mazone E-mail
Manager, Media Relations
(215) 574-7163
(267) 535-1808 (cell)

Joey Lee E-mail
Media Relations Representative
(215) 574-3840
(215) 983-6820 (cell)

Stay Informed