June Philadelphia Fed Factory Index Shows Deteriorating Conditions | June 15, 2023

The Philadelphia Federal Reserve Manufacturing Index measures the overall health of the business environment in Philadelphia. When the index surpasses zero, it signifies business conditions are improving; if it dips below zero, it suggests conditions are deteriorating. The information for the index is gathered through a survey of approximately 250 manufacturers within the Philadelphia Federal Reserve district. As of June, the Philadelphia Fed Factory Index has dropped to -13.7, slightly worse than the estimated -13.5 and lower than the previous value of -10.4. #MarketUpdate