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Firms Say Business Activity Is Still Weak
August 21, 2008 – Activity in the region’s manufacturing sector remains weak, according to firms polled for the August Business Outlook Survey. The diffusion index of current activity increased slightly from -16.3 in July to -12.7 this month. Other indicators, including new orders, shipments, and employment, were all negative again this month. In the special questions, the manufacturers were asked about their export activities. See the news release. To participate in the press conference call following the release or for an interview with our analyst, contact Katherine Q. Dibling at 215-574-4119.
Analysis: Regional Employment Data
August 18, 2008 – The Philadelphia Fed's Research Department today posted an analysis of July's state employment statistics for Delaware, New Jersey, and Pennsylvania.
Launch: Real-Time Data Research Center
August 13, 2008 – The Philadelphia Fed’s Research Department today launched the Real-Time Data Research Center. The center will facilitate collaborative research using the Bank’s real-time data set and its surveys of forecasters. See the news release and listen to an interview about the center. To speak with the center's interim director, Dean Croushore, contact Katherine Dibling at 215-574-4119.
Forecasters Lower Estimates for Growth
August 12, 2008 – The Federal Reserve Bank of Philadelphia today released its third quarter Survey of Professional Forecasters, which reports participants’ expectations for economic growth, inflation, and employment. In this survey, forecasters lowered estimates for growth and increased projections for job losses. Listen to an interview with our analyst about the survey. To speak with the analyst directly, contact Katherine Dibling at 215-574-4119.
FOMC Keeps Its Target for Federal Funds Rate
August 5, 2008 – The Federal Open Market Committee decided today to keep its target for the federal funds rate at 2 percent. See press release. 
Analysis: Metropolitan Area Employment
August 1, 2008 – The Philadelphia Fed today posted analysis related to metropolitan area employment data in Delaware, New Jersey, and Pennsylvania. The data were recently released by the Bureau of Labor Statistics.
Philadelphia Fed Announces Promotions
July 31, 2008 – The Philadelphia Fed has announced the promotion of Arun Jain from vice president to senior vice president of the Bank’s Retail Payments Department and Robert Mucerino from Collateral Management’s national support service manager to Treasury Services officer. See the news release.
Podcast: History of Central Banking
July 31, 2008 – Philadelphia is the birthplace of central banking in the U.S. It was home to the first and second Banks of the United States. Learn more about the history of central banking by listening to July's Moments in Money and Economics. Also available is our publication History of Central Banking.
Leading Indexes Released Today
July 29, 2008 – The Philadelphia Fed today released June's leading indexes for Delaware, New Jersey, and Pennsylvania. For an interview with an analyst, contact Katherine Dibling at 215-574-4119.
Analysis: Housing Permits
July 28, 2008 – The Philadelphia Fed today posted analysis related to data on regional housing permits for June.
Media Advisories
Schedule of Philadelphia Fed Economic Releases
The Philadelphia Fed posted a schedule of economic releases for July and August.
Events
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FYI
New York Fed: A Look at New Jersey's Subprime Mortgages in Foreclosure
The Federal Reserve Bank of New York recently initiated a new series of articles called Community Affairs Forum: Facts & Trends. The first article, "A Look at New Jersey's Subprime Mortgages in Foreclosure, " traces patterns of regional variation in, and neighborhood concentration of, owner-occupied subprime mortgages in foreclosure.
Dallas Fed: Trimmed Mean PCE
The trimmed mean personal consumption expenditures (PCE) inflation rate for June, released by the Dallas Federal Reserve, was an annualized 3.3 percent. According to the Bureau of Economic Analysis, the overall PCE inflation rate for June was 9.5 percent, annualized, while the inflation rate for PCE excluding food and energy was 3.2 percent.
Chicago Fed’s National Economic Activity Index
The Chicago Fed National Activity Index was -0.96 in May, up from -1.23 in April.
Atlanta Fed: Dollar Continued Modest Rise in June
The average monthly value for the trade-weighted dollar index of 15 major currencies tracked by the Federal Reserve Bank of Atlanta increased by 0.6 percent in June from the previous month. See the news release.
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