The region's non-manufacturing sector expanded at a faster pace in October, as the general business conditions index climbed to 50.0 from 42.9 in September, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.
At the company level, the general business activity index rose to 44.1 from 35.7.
The prices paid index was 26.5, up from 11.9 last month, new orders index rose to 35.3 from 31.0, sales or revenues grew to 38.2 from 28.6, the unfilled orders index climbed to 11.8 from 4.8, the inventories index gained to 17.6 from 9.5, prices received jumped to 14.7 from 7.1, the number of full time employees index fell to 11.8 from 16.7, the number of part time employees index surged to positive 38.2 from negative 7.1, and the average employee workweek rose to 29.4 from 16.7.
The six months from now regional general business conditions index grew to 94.1 from 88.1 in last month's survey, while the company general business conditions index rose to 79.4 from 76.2.
