Philadelphia Feeling: Federal Reserve Bank of Philadelphia Business Outlook Survey August 2010

The latest release of the Federal Reserve Bank of Philadelphia Business Outlook Survey (BOS) for August indicated the first sign of contraction in the regions manufacturing activity seen in over a year with the current activity index falling to a level of -7.7.

Further, the future activity index also indicates substantial weakening in recent months falling to a level of 19.6 from a level of 52 earlier in the year.

In the first two charts, the bright green band indicates contraction (0 to -100) while any value above that band indicates expansion.