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Economic Data (USA)

Thursday, October 18, 2012

Philadelphia Fed Business Outlook Survey for October 2012

Earlier today, the Federal Reserve Bank of Philadelphia released its diffuse index of current manufacturing conditions for this month (October):

Predicted: +0.5
Actual: +5.7

The "actual" figure above is an index of current manufacturing conditions within the Federal Reserve's Third District, which includes eastern Pennsylvania, all of Delaware and the southern half of New Jersey. Any figure below zero implies that manufacturing in the region is contracting, and vice versa.

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

Click here to view the full Philadelphia Fed report.

Last month, the actual figure was -1.9.

For a national perspective of manufacturing conditions, check out the Institute of Supply Management's Purchasing Manager's Index (PMI).


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