Philadelphia Fed business index for June 2023
- Prior month -10.4
The highlights of the segment indices shows:
- Fed business index for June -13.7 versus -14.0 estimate. 10th consecutive negative month for the Philly Fed index
- six-month index 12.7 versus -10.3 last month
- Capex index 9.9 versus 2.5 last month
- Employment index -0.40 versus -8.6 last month
- Prices paid 10.5 versus 10.9 last month
- New orders -11.00 versus -8.90 last month
Below are the full details of the data from the Philadelphia Fed:
From the Philadelphia Fed directly:
- Manufacturing activity in the region continued to decline overall according to the June Manufacturing Business Outlook Survey.
- The survey’s indicators for general activity and new orders remained negative.
- The index for shipments rose and turned positive.
- The employment index suggests steady employment overall.
- The price indexes remained below long-run averages.
- Most future indicators improved, but expectations for growth over the next six months remained tempered.