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The index covers the Third Federal Reserve District (the jurisdiction of the Philadelphia Fed), namely covers eastern and central Pennsylvania, the nine southern counties of New Jersey, and Delaware. [1] The report is sometimes also called the Philadelphia Fed Index because it includes reporting of some index values. [2] [3]
In business cycle theory and finance, any economic quantity that is positively correlated with the overall state of the economy is said to be procyclical. [2] That is, any quantity that tends to increase in expansion and tend to decrease in a recession is classified as procyclical.
The Survey of Professional Forecasters (SPF) is a quarterly survey of macroeconomic forecasts for the economy of the United States issued by the Federal Reserve Bank of Philadelphia. It is the oldest such survey in the United States. The survey includes an "anxious index" that estimates the probability of a decline in real GDP. [1]
The following terms are defined in Federal Standard 1037C, which is essentially a dictionary of technical terms promulgated by the United States government, and available to view here: Federal Standard 1037C. This page and its many many subpages are in dire need of attention.
The six-month outlook index, which has also been consistently negative starting in June, came in at negative 7.1, up from negative 14.9 in October. Philadelphia Fed factory activity index drops ...
There are many coincident economic indicators, such as Gross Domestic Product, industrial production, personal income and retail sales. A coincident index may be used to identify, after the fact, the dates of peaks and troughs in the business cycle. [6] There are four economic statistics comprising the Index of Coincident Economic Indicators: [7]
Its geographical territory is by far the smallest in the system, and its population base is the second-smallest (next to the Federal Reserve Bank of Minneapolis). The current president of the Philadelphia Fed is Patrick T. Harker. [1] The Philadelphia Fed conducts research on both the national and regional economy.
The economic data published on FRED are widely reported in the media and play a key role in financial markets. In a 2012 Business Insider article titled "The Most Amazing Economics Website in the World", Joe Weisenthal quoted Paul Krugman as saying: "I think just about everyone doing short-order research — trying to make sense of economic issues in more or less real time — has become a ...