Thursday, May 20, 2010

Philadelphia Feeling: Federal Reserve Bank of Philadelphia Business Outlook Survey May 2010

Today, the Federal Reserve Bank of Philadelphia released the results of their Business Outlook Survey (BOS) for May showing a slight improvement in manufacturing activity for the Philadelphia region with the current activity index increasing to 21.4.

Further, although the future activity index has topped out a bit in recent months, at a reading of 37 it’s still well within expansion territory.

In the first two charts, the bright yellow band indicates contraction (0 to -100) while any value above that band indicates expansion.