October Philly Fed Mfg Index: Continued Growth

The Philly Fed's Manufacturing Business Outlook Survey is a monthly report for the Third Federal Reserve District, covers eastern Pennsylvania, southern New Jersey, and Delaware. While it focuses exclusively on business in this district, this regional survey gives a generally reliable clue as to the direction of the broader Chicago Fed's National Activity Index.

The latest Manufacturing Index came in at 39.0, up 15.2 from last month's 23.8. The 3-month moving average came in at 31.2, up from last month. Since this is a diffusion index, negative readings indicate contraction, positive ones indicate expansion. The Six-Month Outlook came in at 28.5, up 4.3 from the previous month's 24.2.

The 39.0 headline number came in above the 24.0 forecast at Investing.com.