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Glossary

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Philadelphia Fed Index

A monthly report issued by the Federal Reserve Bank of Philadelphia (Third Federal Reserve District), covering changes in business and employment trends. The survey is a good indicator of near-term conditions and expectations for manufacturers and producers. The survey also provides insight to movements in prices paid given the current state of inflation. Like the NAPM, a reading over 50% indicates expansion from the month prior, while a reading under 50% indicates contraction.