The Philadelphia Fed Manufacturing Business Outlook Survey rose sharply from 8.5 to 16.6 in May, nearly doubling the consensus forecast.
The regional manufacturing survey for the Mid-Atlantic follows the New York Fed’s Empire State Manufacturing Survey, which also nearly doubled the forecast for May. The results of both surveys may be early indicators of tariffs pushing domestic new orders higher.
The regional manufacturing survey for the Mid-Atlantic follows the New York Fed’s Empire State Manufacturing Survey, which also nearly doubled the forecast for May. The results of both surveys may be early indicators of tariffs pushing domestic new orders higher.