The region's manufacturing sector expanded in November, although the general business conditions index declined to 7.6 from 12.8 in October, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.
Economists surveyed by Thomson Reuters predicted a reading of 8.0 for the index.
The prices paid index was 27.5, up from 7.0 last month, new orders index rose to 18.6 from 16.3, shipments grew to 19.5 from 15.3, the unfilled orders index climbed to positive 4.1 from negative 0.7, the delivery times index improved to positive 6.1 from negative 0.3, inventories reversed to positive 13.4 from negative 12.8, prices received soared to positive 16.0 from negative 3.7, the number of employees index narrowed to negative 2.6 from negative 4.0, and the average employee workweek gained to positive 7.4 from negative 2.2.
The six months from now general business conditions index slid to 29.3 from 32.6 in last month's survey, the prices paid index was at 36.7, off from 42.4 in the prior survey, and the prices received index rose to 31.0 from 29.2. The capital expenditures index slid to 19.1 from 21.2 last month. The number of employees index slumped to 11.8 from 25.9, while the average workweek index fell to 8.1 from 15.7. The new orders index slipped to 37.4 from 39.3, shipments declined to 30.2 from 40.8; and the unfilled orders index decreased to 8.1 from 15.3. The delivery times index slid to 5.4 from 6.2, and inventories fell to 6.2 from 14.0.
