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“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.