The Philadelphia Fed Regional Index is an indicator that measures the current conditions in the manufacturing sector in the district of Philadelphia, which is the third largest in the United States. Arises from a survey conducted by the Philadelphia Fed on the general health of the economy and businesses. Participants must indicate in the interview, according to its assessment, the changes from the previous month and the forecast for the next six months. The general index indicates growth when it is above zero and contraction when is below zero. Then there are various components, such as the prices paid, prices received, employment, hours worked, new orders and backlog of those, the delivery time and shipment orders.