Survey of manufacturers from Philadelphia (the USA), which indicates their attitude towards current economic situation. Philadelphia Fed index is a survey of about 100 manufacturers in Philadelphia, which indicates their attitude towards current economic situation and perspectives for the nearest 6 months. The index signals economic rates of growth slowdown when it is below zero. This index can indicate what to expect from ISM index (Institute of Supply Managment’ index, former NAPM — National Association of Purchasing Managers), which comes out a few days later. This index increase triggers USD rise.