The region's non-manufacturing sector surged in July, as the general business conditions index gained to 28.8 from 10.8 in June, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.
At the company level, the general business activity index rose to 20.3 from 17.6.
The prices paid index was 23.3, down from 25.7 last month, new orders index soared to 29.6 from 9.4, sales or revenues jumped to 22.1 from 15.0, the unfilled orders index grew to 4.8 from 2.6, the inventories index rose to 6.7 from 0.6, prices received increased to 12.9 from 10.5, the number of full time employees index sank to 1.9 from 18.3, and the average employee workweek fell to 7.3 from 8.9.
The six months from now regional general business conditions index climbed to 43.0 from 26.8, while the company general business conditions index gained to 46.3 from 36.7.
