For immediate release
Contact: Marilyn Wimp, Manager of Media Relations, 215-574-4197
The Federal Reserve Bank of Philadelphia is changing the release time of its monthly Manufacturing Business Outlook Survey (MBOS) from 10 a.m. to 8:30 a.m. ET, starting on November 19, 2015. The data release will remain on the third Thursday of every month. The Philadelphia Fed will only release the survey on its website and will no longer augment the release with a newswire service distribution.
The new release time of 8:30 a.m. allows the survey to be available before the U.S. equity markets open. The decision to discontinue using a newswire results in a streamlined publishing process. The decision will ensure a timely release of the data through a single channel. This will bring the MBOS release into line with all other data releases, surveys, and research published by the Bank. The Philadelphia Fed's sister survey, the Nonmanufacturing Business Outlook Survey, will also be released at 8:30 a.m. ET, starting on November 24, 2015.
The MBOS is the nation's oldest regional manufacturing survey, conducted since 1968. It gathers information on the manufacturing industry in the Third Federal Reserve District covering eastern Pennsylvania, southern New Jersey, and Delaware. The survey asks about the current pace of business in the participants' plants and their future expectations of business. The Philadelphia Fed introduced its monthly Nonmanufacturing Business Outlook Survey in September 2014 to complement the manufacturing survey and to gain a fuller picture of economic activity in the Third District.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank and savings and loan holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System.