Philadelphia Fed Index
Definition of 'Philadelphia Fed Index'
Official name: Business Outlook SurveyWhat exactly? Regional manufacturing index that covers Pennsylvania, New Jersey and Delaware. The general business conditions index signals factory-sector expansion when above zero and contraction when below it. Source: Federal Reserve Bank of Philadelphia Frequency: Monthly Released when? Around the 18th of the month at 10 a.m. Eastern. Data for current month. Market importance: Much. Sometimes moves markets. Timely. Along with the Chicago Purchasing Managers' Index, considered a good gauge of what to expect from the national Purchasing Managers' Index (which comes out a few days later).
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By Jim Cramer | 05/20/99 - 11:12 AM EDT