Philadelphia Fed New Orders Index measures a change in the number of new orders in manufacturing sector in the Philadelphia Fed region. This region includes Pennsylvania, New Jersey and Delaware, i.e. states with high economic activity. The index provides an indirect outlook of the economic development of the entire country.
It is a component of Philadelphia Fed Manufacturing Activity index. The indicator is calculated based on surveys of representative of industrial enterprises in the region who estimate if the number of new orders has increased, decreased or remained at the same level.
The value above 0 is indicates situation improvement. Readings above expectations are seen as positive for the US dollar.