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Release · 2026-09-17 to 2026-09-17

Philly Fed current general activity index fell to 37.8 in September

The Federal Reserve Bank of Philadelphia reported that its Manufacturing Business Outlook Survey diffusion index for current general activity fell from 47.4 in August to 37.8 in September. The new orders index edged down 1 point to 29.2, and the current shipments index was unchanged at 27.7. The employment index fell 16 points to 11.8. The average workweek index declined to 18.0. The prices paid index rose 8 points to 48.6, and the current prices received index rose 14 points to 31.3. The diffusion index for future general activity fell 21 points to 52.9. Survey responses were collected from September 7 to September 15. The Bank released the survey today at 8:30 a.m. ET.

Current general activity index
37.8 2026-09 · prior 47.4 (2026-08)
New orders index
29.2 2026-09 · prior 30.1 (2026-08)
Shipments index
27.7 2026-09 · prior 27.7 (2026-08)
Number of employees index
11.8 2026-09 · prior 27.9 (2026-08)
Average employee workweek index
18.0 2026-09 · prior 26.5 (2026-08)
Prices paid index
48.6 2026-09 · prior 40.9 (2026-08)
Prices received index
31.3 2026-09 · prior 17.7 (2026-08)
Future general activity index
52.9 2026-09 · prior 73.6 (2026-08)
Philly Fed current general activityindex01020304050JulAugSepFederal Reserve Bank of Philadelphia MBOS, July–September 2026
Philly Fed current general activity. Federal Reserve Bank of Philadelphia MBOS, July–September 2026. Share card.

Source: Manufacturing Business Outlook Survey, September 2026 — Federal Reserve Bank of Philadelphia. Also: Manufacturing Business Outlook Survey, September 2026 PDF.

all 8 figures found at the source
  • found Current general activity index = 37.8 — at Federal Reserve Bank of Philadelphia
  • found New orders index = 29.2 — at Federal Reserve Bank of Philadelphia
  • found Shipments index = 27.7 — at Federal Reserve Bank of Philadelphia
  • found Number of employees index = 11.8 — at Federal Reserve Bank of Philadelphia
  • found Average employee workweek index = 18.0 — at Federal Reserve Bank of Philadelphia
  • found Prices paid index = 48.6 — at Federal Reserve Bank of Philadelphia
  • found Prices received index = 31.3 — at Federal Reserve Bank of Philadelphia
  • found Future general activity index = 52.9 — at Federal Reserve Bank of Philadelphia

Researched by Grok, checked against each source by an automated pass, edited by Clem Ziroli III. Published Sep 17, 2026.

This page is one print. The daily brief for September 17, 2026 is the editor's cut of what mattered that day. Figures are as the named sources printed them. The methodology says how this page is made and what is checked.