“Responses to the November Nonmanufacturing Business Outlook Survey suggest that nonmanufacturing activity in the region continued to expand,” the Federal Reserve Bank of Philadelphia announced on Tuesday and added: “The diffusion index for current general activity at the firm level increased 5 points in November to 42.4.”
Key takeaways from the press release
- Nearly 55 percent of the firms reported increases in activity, compared with 13 percent that reported decreases.
- The new orders index rebounded from its sharp decrease last month, rising 20 points to 28.2.
- The full-time employment index fell from 16.6 in October to 10.3 in November.
- The prices paid index rose 22 points to 37.5, an all-time high for the series. Nearly 38 percent of the respondents reported increases in input prices, while no firms reported decreases.
- The diffusion index for future activity at the firm level increased 10 points to 53.6.
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