Philadelphia Fed Survey investment & finance definition
A survey of businesses in the manufacturing industry
that gives an early indication of price direction, employment levels, and
general business conditions. The survey covers manufacturers in the Third
Federal Reserve District, which is headquartered in Philadelphia
and includes the eastern two-thirds of Pennsylvania, southern New Jersey, and
Delaware. The data is released at the end of the month that has been surveyed.
Traders in the financial markets pay attention to the survey because it may
give early insight into what other, broader manufacturing surveys, such as the
ISM Index, will show. However the Philadelphia Fed Survey usually isn’t
a market-moving release. The data is presented as a diffusion index for current
conditions and a six-month outlook.