According to The Kobeissi Letter, the Philadelphia Fed Manufacturing index dropped 5.6 points in March to 12.5, marking its second consecutive monthly decline. The 6-month outlook for new orders fell by 30.8 points to 2.3, the lowest in three years and representing the third-largest drop in history, surpassed only by 2008. This significant decline may influence trading strategies, as it signals potential economic slowdown.