The region's non-manufacturing sector expanded at a faster pace in September, as the general business conditions index climbed to 42.9 from 20.5 in August, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.
At the company level, the general business activity index rose to 35.7 from 27.3.
The prices paid index was 11.9, down from 20.5 last month, new orders index rose to 31.0 from 20.5, sales or revenues grew to 28.6 from 13.6, the unfilled orders index dropped to 4.8 from 11.4, the inventories index gained to 9.5 from 6.8, prices received fell to 7.1 from 18.2, the number of full time employees index grew to 16.7 from 11.4, the number of part time employees index fell to negative 7.1 from positive 9.1, and the average employee workweek rose to 16.7 from 9.1.
The six months from now regional general business conditions index grew to 88.1 from 72.7 in last month's survey, while the company general business conditions index rose to 76.2 from 75.0.
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