The region's non-manufacturing sector “grew at a slightly slower pace” in October, as the general business conditions index declined to 21.3 from 23.7 in September, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.
At the company level, the general business activity index fell to 16.3 from 16.7.
The prices paid index was 15.0, down from 29.9 last month, new orders index slid to 5.7 from 10.6, sales or revenues dropped to 6.0 from 11.1, the unfilled orders index dropped to 5.4 from 9.0, the inventories index jumped to positive 7.6 from negative 1.1, prices received decreased to 3.3 from 13.2, the number of full time employees index fell to 8.5 from 19.3, and the average employee workweek fell to 3.9 from 12.5.
The six months from now regional general business conditions index dropped to 37.9 from 39.8, while the company general business conditions index fell to 40.4 from 52.7.
