Philadelphia Fed Index Shows Decline in Regional Business Activity

Philly Fed Index Hits Negative 99 in September

The Philadelphia Fed's index of regional business activity has fallen to negative 99 in September, indicating a decline in overall manufacturing activity in the region.

Key Findings

• The current general activity index, which measures current business conditions, fell to negative 99 from a positive 11.2 in August.
• The number of employees index, which measures hiring trends, fell to a negative 57 in August from a positive 152 in July.
• The new orders index, which measures new orders for manufactured goods, fell to negative 23.8 in August from a positive 4.4 in July.

The Philly Fed's report is a key indicator of economic conditions in the Mid-Atlantic region, and the latest data suggests that economic activity in the region is slowing.

The decline in the Philly Fed index is consistent with other recent economic data, which has also pointed to a slowdown in economic growth.

The Federal Reserve is expected to continue raising interest rates in an effort to curb inflation, but the latest data suggests that the economy may be slowing more than expected.

The Philadelphia Fed's index is a closely watched indicator of economic conditions in the Mid-Atlantic region, and the latest data suggests that the economy may be slowing more than expected.

The Federal Reserve is expected to continue raising interest rates in an effort to curb inflation, but the latest data suggests that the economy may be slowing more than expected.