FX.co ★ Philly Fed Manufacturing Gauge Cools in October, Slipping to 33.0

The Philadelphia Fed’s Business Conditions index for the United States eased in October 2026, signaling a moderation in regional manufacturing momentum. The indicator came in at 33.0, down from 52.9 in September 2026.

The latest reading, updated on 15 October 2026, points to continued expansion in activity but at a markedly slower pace than the previous month. While the index remains in positive territory, the decline suggests that the strong surge seen in September has cooled, indicating a more measured growth environment for manufacturers in the Philadelphia Federal Reserve district as the fourth quarter begins.