Survey conducted by the Philadelphia Fed questioning manufacturers in the Third Federal Reserve District on general business conditions. Conducted since 1968, the "Philly Fed" survey is an established report, valued for its timeliness, scope of coverage and tendency to forecast developments in the market moving ISM Manufacturing figure.

Higher Philadelphia Fed Survey figures indicate a positive outlook from manufacturers, suggesting increased production. Higher production contributes to economic growth, which is generally bullish for the dollar.

Results are calculated as the difference between percentage of positive and negative scores; zero acts as the centerline point.

Relevance: Tends to move markets on release
Release schedule : 12:00 PM (EST); monthly, the third Thursday of the reporting month
Revisions schedule : Annual revisions to historical data
Source of report : Federal Reserve Bank of Philadelphia
Web Address : http://www.phil.frb.org
Address of release : http://www.phil.frb.org/econ/bos/bosschedule.html
AKA : Philadelphia Business Outlook Survey