Chamber of Commerce for Greater Philadelphia Economic Outlook Survey

Members of the Chamber of Commerce for Greater Philadelphia reported strong activity across the region and in their companies in 2022 compared with 2021, according to a new survey from the Federal Reserve Bank of Philadelphia. However, regional expectations for 2023 were mixed.

The annual survey, now in its 13th year, offers a perspective on the region’s economic competitiveness and the issues that will affect the business community in the coming year. The survey, which was conducted in December 2022, polled 64 chamber members. Patrick T. Harker, president and CEO of the Philadelphia Fed, presented the results at the chamber’s 2023 Annual Economic Outlook event.

“Given this backdrop, it’s not a surprise that labor was cited as a top concern by many respondents. Chamber members also cited the availability of financing and interest rates as pressing concerns. This, too, is no surprise, given changes in monetary policy over the past year,” said Harker.

For more information, visit the Chamber of Commerce for Greater Philadelphia’s website.