![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg2kHh_6ASbNaCbWbfRuT4w_VOxFQlIXp7WOQXlextAoBaRWCAdVRCFgcuT9I8yIF5RFo0dn6oQCLUhbB5Djm3rejQ7MlOrVfaIpgHVgr1rvz7PGmZqW1msQxlFJi0E8U3J0l8Q/s400/phillyfeeling.jpg)
The March release of the
Federal Reserve Bank of Philadelphia Business Outlook Survey (BOS) indicated an improvement of the regions manufacturing activity with the current activity index climbing to a weak expansionary level of 2 while assessments the future activity remained flat at level of 32.5.
The following chart shows the current and future activity indexes both with their corresponding 3-month moving averages. The red line marks the threshold between contraction and expansion for these diffusion indexes.