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2025-09-18 20:38:44
The Philadelphia Fed Manufacturing Index rebounded sharply in September. (1) In September, the Philadelphia Fed Manufacturing Index rose to +23.2, its highest level since January this year, significantly higher than the -0.3 in August and the market expectation of 2.3, indicating a return to expansion in manufacturing activity. (2) Looking at the sub-indexes, the new orders index rose 14 points to 12.4, the shipments index rose 22 points to 26.1, and the employment index remained essentially flat, continuing to reflect increased employment. (3) While the price index declined, it remained elevated. Future indicators from the survey show that respondents generally expect growth to continue over the next six months.
