{"id":430793,"date":"2026-05-21T19:40:07","date_gmt":"2026-05-21T12:40:07","guid":{"rendered":"https:\/\/www.swingfish.trade\/blog\/market-news\/2026\/05\/us-may-philly-fed-business-index-0-4-vs-18-0-expected\/"},"modified":"2026-05-21T19:40:07","modified_gmt":"2026-05-21T12:40:07","slug":"us-may-philly-fed-business-index-0-4-vs-18-0-expected","status":"publish","type":"post","link":"https:\/\/www.swingfish.trade\/blog\/market-news\/2026\/05\/us-may-philly-fed-business-index-0-4-vs-18-0-expected\/","title":{"rendered":"US May Philly Fed business index -0.4 vs +18.0 expected"},"content":{"rendered":"<div>\n<ul>\n<li><a href=\"https:\/\/investinglive.com\/news\/us-april-philly-fed-business-index-267-vs-100-expected-20260416\/\" target=\"_blank\" rel=\"follow\">Prior<\/a> was +26.7<\/li>\n<\/ul>\n<p class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\">Details:<\/p>\n<ul class=\"[li_&amp;amp;amp;]:mb-0 [li_&amp;amp;amp;]:mt-1 [li_&amp;amp;amp;]:gap-1 [&amp;amp;amp;:not(:last-child)_ul]:pb-1 [&amp;amp;amp;:not(:last-child)_ol]:pb-1 list-disc flex flex-col gap-1 pl-8 mb-3\">\n<li class=\"whitespace-normal break-words pl-2\">New orders xx vs 33.0 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Shipments xx vs 34.0 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Unfilled orders xx vs -10.2 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Delivery times xx vs 1.7 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Inventories xx vs -1.9 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Prices paid xx vs 59.3 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Prices received xx vs 33.5 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Number of employees xx vs -5.1 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Average employee workweek xx vs 7.7 prior<\/li>\n<\/ul>\n<p class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\">Six-months from now indicators:<\/p>\n<ul class=\"[li_&amp;amp;amp;]:mb-0 [li_&amp;amp;amp;]:mt-1 [li_&amp;amp;amp;]:gap-1 [&amp;amp;amp;:not(:last-child)_ul]:pb-1 [&amp;amp;amp;:not(:last-child)_ol]:pb-1 list-disc flex flex-col gap-1 pl-8 mb-3\">\n<li class=\"whitespace-normal break-words pl-2\">6 month index xx vs 40.8 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Capex index 6-month forward xx vs 35.2 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">New orders xx vs 45.7 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Shipments xx vs 40.8 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Unfilled orders xx vs -4.1 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Delivery times xx vs 2.7 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Inventories xx vs -0.7 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Prices paid xx vs 50.2 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Prices received xx vs 50.2 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Number of employees xx vs 35.9 prior<\/li>\n<li class=\"whitespace-normal break-words pl-2\">Average employee workweek xx vs 30.3 prior<\/li>\n<\/ul>\n<p>Manufacturing activity in the region weakened overall. The survey\u2019s indicators for general activity, new orders, and shipments all fell sharply this month. The employment index ticked up but remained negative, continuing to suggest overall declines in employment. Both price indexes declined this month but remained elevated. The firms continue to expect overall growth over the next six months, and most future indicators rose this month from already elevated readings.<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\">What is the Philly Fed Index?<\/p>\n<p class=\"font-claude-response-body break-words whitespace-normal leading-[1.7]\">The Philadelphia Fed Manufacturing Survey, also known as the Philly Fed Index, is one of the earliest monthly indicators of manufacturing sector health in the United States. Published by the Federal Reserve Bank of Philadelphia, it surveys manufacturers in the Third Federal Reserve District, covering eastern Pennsylvania, southern New Jersey, and Delaware. Readings above zero indicate expanding activity, while readings below zero signal contraction. The survey is closely watched by economists and market participants because it often serves as a leading indicator for the national ISM Manufacturing Index released later each month.<\/p>\n<p>                            This article was written by Giuseppe Dellamotta at investinglive.com.<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prior was +26.7 Details: New orders xx vs 33.0 prior Shipments xx vs 34.0 prior Unfilled orders xx vs -10.2 prior Delivery times xx vs 1.7 prior Inventories xx vs -1.9 prior Prices paid xx vs 59.3 prior Prices received xx vs 33.5 prior Number of employees xx vs -5.1 prior Average employee workweek xx [&hellip;]<\/p>\n","protected":false},"author":216,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[],"class_list":["post-430793","post","type-post","status-publish","format-standard","hentry","category-market-news"],"_links":{"self":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/430793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/users\/216"}],"replies":[{"embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/comments?post=430793"}],"version-history":[{"count":0,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/posts\/430793\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/media?parent=430793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/categories?post=430793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.swingfish.trade\/blog\/wp-json\/wp\/v2\/tags?post=430793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}