The region's non-manufacturing sector slipped in May, as the general business conditions index declined to 4.6 from 13.5 in April, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.
At the company level, the general business activity index gained to 18.2 from 17.8.
The prices paid index was 22.4, up from 10.9 last month, new orders index grew to 23.1 from 13.9, sales or revenues surged to 23.9 from 9.6, the unfilled orders index slid to 4.4 from 6.2, the inventories index rose to 8.9 from 6.5, prices received fell to 5.5 from 13.9, the number of full time employees index rose to 10.6 from 7.5, and the average employee workweek fell to 19.3 from 24.8.
The six months from now regional general business conditions index dropped to 25.5 from 35.2, while the company general business conditions index declined to 39.1 from 56.0.
