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Philadelphia Fed Survey close
# Revised Better / Worse Units: index
Impact Actual Forecast Previous Time Date
High -5.80 10.00 8.50 09:00 5/17


Federal Reserve Bank of Philadelphia


The Philadelphia Fed Index, or the Philly Index, is a monthly survey by the Federal Reserve Bank of Philadelphia to manufacturers in Philadelphia, New Jersey and Delaware. A reading below zero indicates contraction in the manufacturing sector, while a positve reading indicates that business is expanding.



Why should I care?

Expansion or contraction in the manufacturing sector can be a leading indicator for overall market activity. Although this is a regional report, traders consider it to be a good prediction of the information on the Purchasing Managers' Index, which reflects similar data for the entire US.


The OlsenScale (SMQ)

The Olsen Scale quantifies the market activity according to the Scale of Market Quakes (SMQ).

Similar to the Richter scale which measures the release of seismic energy during an earthquake, the SMQ relates excessive pricing along various price and time scales to historical data by assigning a single number to it. On a constant basis, the scale therefore characterizes the state of the market.

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Released: May 17, 2012 9:00
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