US Philadelphia Fed non-manufacturing index for September at 22
Summary
The Philadelphia Federal Reserve's non-manufacturing index for September recorded a value of 22.0, indicating a contraction in the regional service-sector activity. This index, which is a diffusion measure, assesses the extent of growth or decline among firms located in Pennsylvania, New Jersey, and Delaware, providing valuable insights into the economic trends of the broader U.S. economy.
Analysis
US Philadelphia Fed: The Federal Reserve Bank of Philadelphia is one of the twelve regional banks in the U.S. Federal Reserve System, serving the Third Federal Reserve District. It conducts regional economic research and produces monthly business outlook surveys covering both manufacturing and non-manufacturing sectors. The bank issued its non-manufacturing business outlook survey for September, highlighting conditions among service-sector firms in the region. Regional Focus: The survey covers firms located in Pennsylvania, New Jersey, and Delaware, offering localized insights into broader U.S. economic trends. Economic Indicator: The Philadelphia Fed non-manufacturing index is a diffusion index that gauges the breadth of expansion or contraction in regional service-sector activity.
Categories
macropolitics