“Responses to the September Nonmanufacturing Business Outlook Survey suggest that nonmanufacturing activity continued to expand in the region,” the Federal Reserve Bank of Philadelphia reported on Tuesday.
Key quotes
- The regional activity index fell 4 points to 37.4.
- The diffusion index for current general activity at the firm level rose from 41.1 in August to 46.8 in September.
- The new orders index fell 2 points to 26.7. The share of firms reporting increases in new orders exceeded the share reporting decreases.
- The sales/revenues index rose from 40.5 in August to 42.8 in September, its highest reading since February 2015.
- The survey’s labor market indicators remained strong in September. The full-time employment index increased from 32.2 in August to 36.7 in September.
Share
