8legs: Federal reserve bank of philadelphia

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Five Facts About the Philly Fed Manufacturing Survey

The Philly Fed Manufacturing Survey has tracked U.S. manufacturing since 1968, offering early signals on the economy.
Economists use the index as a regional leading indicator of broader economic trends.
The survey asks manufacturers about activity, new orders, prices, and the workweek to gauge changes.
The Philadelphia Fed introduced interactive dashboards and FAQs for the Manufacturing and Nonmanufacturing surveys.
The survey has tracked eight recessions, illustrating its value in understanding downturns and recoveries.
In 2025, the Philly Fed added Price and Inflation Expectations data to its suite.
Price changes reported in the Price and Inflation Expectations Survey have shown a relationship with U.S. inflation so far.
The survey serves as an early signal for both regional conditions and national economic trajectories.
Economists watch the index closely because manufacturing trends can predict broader changes.

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