The Philly Fed Business Outlook Survey: February 2013

by: Sold At The Top

The February release of the Federal Reserve Bank of Philadelphia Business Outlook Survey indicated a worsening of the region's manufacturing activity. The current activity index declined to a contraction level of -12.5, while assessments of the future activity index increased to a level of 32.1.

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.