Blake Prichard, first vice president and chief operating officer of the Federal Reserve Bank of Philadelphia, has announced his plans to retire on February 29, 2016, after more than four decades of service to the Federal Reserve System. Read the release.
The Philadelphia Fed has updated its monthly Tri-State Tracking series that provides statewide summaries of economic conditions using monthly and quarterly data of employment, housing, and personal income. Read the reports for Delaware , New Jersey , and Pennsylvania .
The Bank has released July’s leading indexes, which are a six-month forecast of the state coincident indexes. The coincident indexes measure current economic activity in each of the 50 states. This month's leading indexes suggest economic expansion in 47 states into the first quarter of 2016. Read the report.
The Bank has released the July state coincident indexes, which measure current economic activity in each of the 50 states. This month’s coincident indexes suggest expansion in 43 states. Read the report.
The pace of regional nonmanufacturing activity in August improved somewhat but remained subdued, according to firms responding to the latest Nonmanufacturing Business Outlook Survey. Firms also reported increases in new orders, sales, and employment, overall. Read the report.
Responses from 38 service providers to low- and moderate-income (LMI) households in the region suggest that job availability continued to improve for the fifth consecutive quarter, according to the Bank’s Second Quarter 2015 Community Outlook Survey. Additionally, LMI households’ financial well-being, access to credit, and availability of affordable housing reflected gradual stabilization. Read the Community Outlook Survey.
Manufacturing activity improved in August, according to firms responding to the latest Manufacturing Business Outlook Survey. The diffusion index of current activity increased from 5.7 in July to 8.3 this month. Read the report.
Why has labor’s share of national income been declining steeply? Why are more college-educated workers gravitating to large metropolitan areas? And the inaugural Banking Trends explores why small banks in the tristate area differ from those elsewhere. Download the entire issue.
Patrick T. Harker took office as the 11th president and CEO of the Federal Reserve Bank of Philadelphia on July 1, 2015. In this role, Harker leads the Philadelphia Fed and participates on the Federal Open Market Committee, which formulates the nation’s monetary policy. Read his bio.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government. One of the 12 regional Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System, the Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware. Learn more about us.
A monthly survey of manufacturers in the Third Federal Reserve District.
A monthly survey of nonmanufacturers in the Third Federal Reserve District.
Combine four state-level indicators to summarize current economic conditions in a single statistic.
Predict the six-month growth rate of the state's coincident index.
Designed to track real macroeconomic activity at high frequency. Last updated on September 3, 2015.