The Philadelphia Fed Index is a monthly economic indicator published by the Federal Reserve Bank of Philadelphia. It is also known as the Philadelphia Fed Manufacturing Index or the Philly Fed Index.The Philly Fed Index measures the health of the manufacturing sector in the Third Federal Reserve District, which includes parts of Pennsylvania, New Jersey, and Delaware. It is based on a survey of manufacturing firms in the region, and it asks them about various aspects of their business, such as production, employment, and new orders.The Philly Fed Index is considered to be an important indicator of the overall health of the manufacturing sector in the United States, as well as the broader economy. It is closely watched by analysts, investors, and policymakers, as it can provide insight into the direction of the economy and help to predict future economic conditions.The Philly Fed Index is released on the third Thursday of each month at 8:30 AM Eastern Time. It is typically accompanied by a press release and an analysis of the data. The index is expressed as a diffusion index, with values above zero indicating expansion and values below zero indicating contraction.
