Locator: 51520SURVEY.
Tag: Philadelphia Fed Manufacturing Business Outlook Survey
Let's do some parsing:
- not exactly the Rust Belt, but pretty close -- PA, southern NJ, Delaware;
- any reading above zero: expanding manufacturing conditions
- activity rose to 47.4 -- one of the strongest readings in the survey's history --
- six-month outlook surged to 73.6 -- reflecting peak optimism among regional business leaders.
A trailing indicator. Those who responded to the survey most likely knew how they would be responding to the survey a month ago. And business conditions that generated numbers like this could have happened overnight.
