Source Federal Reserve Bank of Philadelphia (latest release)
Measures Level of a diffusion index based on surveyed manufacturers in Philadelphia;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, around the middle of the current month;
Next Release Jan 21, 2016
FF Notes Above 0.0 indicates improving conditions, below indicates worsening conditions;
Why Traders
Care It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment;
Derived Via Survey of about 250 manufacturers in the Philadelphia Federal Reserve district which asks respondents to rate the relative level of general business conditions;
Also Called Philadelphia Fed Business Outlook Survey;