United States Philadelphia Fed Manufacturing Index

The Philadelphia Fed Manufacturing Index in the US climbed to 44.3 in January 2025, its highest since April 2021, from a revised reading of -10.9 in December and better than market forecasts of -5. This is the index’s largest monthly increase since June 2020, as the indicators for current new orders (+47 points to 42.9) and shipments (+39 points to 41) rose sharply and reached multiyear highs. The employment index (+7 points to 11.9) moved higher and continued to suggest increasing levels of employment overall. The price indexes indicated overall increases in prices, and both indexes rose above their long-run averages. The survey’s broad indicators for future activity rose, suggesting more widespread expectations for overall growth over the next six months.