2026.03.1912:37:53UTC+00Philadelphia Factory Activity Expands the Most in 6 Months

The Philadelphia Fed Manufacturing Index climbed to 18.1 in March 2026, its highest level since September 2025, up from 16.3 in February and far exceeding analysts’ expectations of 10. This was the third consecutive month in positive territory, signaling continued expansion in regional manufacturing activity.

The index for current new orders slipped 3 points to 8.6, while the current shipments index jumped 22 points to 22.2, its strongest reading since January 2025. The inventories index edged up 2 points to 1.4.

The employment index moved back into positive territory, rising 2 points to 0.8, though the reading still points to largely stable overall employment levels. Both price indexes increased after declining in the previous month: the prices paid index rose 6 points to 44.7, and the prices received index advanced 5 points to 21.2.

Looking ahead, firms continue to anticipate overall growth in activity over the next six months.