Today, the Federal Reserve Bank of Philadelphia released the results of their Business Outlook Survey (BOS) for May showing a slight improvement in manufacturing activity for the Philadelphia region with the current activity index increasing to 21.4.Further, although the future activity index has topped out a bit in recent months, at a reading of 37 it’s still well within expansion territory.
In the first two charts, the bright yellow band indicates contraction (0 to -100) while any value above that band indicates expansion.
