Philadelphia Fed Manufacturing Business Outlook Continues to Beat Forecast

A manufacturing assembly line at the Heinz factory in Pittsburgh, Pennsylvania. (Photo: Courtesy of Heinz)

The Philadelphia Federal Reserve’s Manufacturing Business Outlook survey came in at 25.8 in February, a gain from 22.1 last month and easily topping the 21.0 median forecast. The indexes for general activity, neworders, and employment were all positive this month and increased from their readings last month.

The index has stayed within a relatively narrow range over the past nine months. Nearly 41% of the firms indicated increases in activity this month, while 15% reported decreases.