The Philly Fed Business Outlook Survey: January 2013

by: Sold At The Top

The January release of the Federal Reserve Bank of Philadelphia Business Outlook Survey indicated a worsening of the region's manufacturing activity, with the current activity index declining to a contraction level of -5.8 while assessments of the future activity index increased to a level of 29.2.

The following chart shows the current and future activity indexes, both with their corresponding three-month moving averages. The red line marks the threshold between contraction and expansion for these diffusion indexes.