Philadelphia Federal Index

Official name: Business Outlook Survey
What exactly? Regional manufacturing index that covers Pennsylvania, New Jersey and Delaware. The overall business conditions index signals production line area expansion when over zero and contraction when below it.
Source: Federal Reserve Bank of Philadelphia
Frequency: Monthly
Delivered when? Around the eighteenth of the month at 10 a.m. Eastern. Data for current month.
Market importance: Much. At times moves markets. Convenient. Alongside the Chicago Purchasing Managers' Index, considered a decent measure of what's in store from the national Purchasing Managers' Index (which comes out a couple of days after the fact).

Features

• The Philadelphia Federal Index (or Philly Fed Index) is a regional federal-reserve-bank index measuring changes in business growth covering the Pennsylvania, New Jersey, and Delaware districts.
• At the point when the Philadelphia Federal index is over zero, it demonstrates processing plant area growth, and when below zero, it shows contraction.
• Otherwise called the "Business Outlook Survey," a rising index is much of the time a signal that a bull market is on the horizon.