Philadelphia manufacturing index rebounds strongly in July, hitting a five-month high.

In July 2025, the Philadelphia Fed Manufacturing Index soared to 15.9, not only ending three consecutive months of negative territory but also reaching its highest level since February. The data saw a significant rebound from June's -4.0, far exceeding market expectations of -1. All sub-indices showed strong growth: the new orders index surged 16 points to 18.4, the shipments index jumped 15.4 points to 23.7. The employment index turned positive and soared 20 points to 10.3, indicating an overall increase in manufacturing employment.