Regional Manufacturing Surveys

Who: Purchasing managers' organizations and Federal Reserve banks

When: Philadelphia Fed - third Thursday of the month for the current month
Chicago PMI - last business day of the month for the current month

What: The Philadelphia Fed's survey is the first each month, followed by several smaller surveys before the Chicago purchasing managers' report. The reports are measured like the ISM (Institute for Supply Management) which is measured by new orders, production, supplier deliveries, inventories and employment; asking for positive, negative or unchanged readings of each. A reading above 50% generally indicates that the manufacturing sector is expanding, and below 50% signifies contraction.

Why: See Institute of Supply Management Manufacturing Index