According to the Federal Reserve Bank of Philadelphia’s February 2019 Nonmanufacturing Business Outlook Survey, the general activity index rose to 10 from 1 in January to suggest that nonmanufacturing activity improved at a healthy pace.
Key quotes from the press release
- After falling for four consecutive months, the full-time employment index rose from 9.4 in January to 22.0 in February.
- The prices paid index fell 10 points to 16.3. Over 22 percent of the respondents reported increases in input prices, while only 6 percent reported decreases.
- Following a 20-point decline in January, the diffusion index for future activity at the firm level increased 36 points to 58.9.
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