Philadelphia Fed: non-mfg expands quicker in Nov., prices gain
The region's services sector expanded at a faster pace, as the general business conditions index grew to 43.3 in November from 37.6 in October, this month's Federal Reserve Bank of Philadelphia non-manufacturing Report on Business, released Tuesday, indicates.
At the company level, the general business activity index grew to 42.4 from 37.2.
The prices paid index was 37.5, an all-time high, up from 15.0 last month, while prices received climbed to 25.8 from 18.6.
New orders index soared to 28.2 from 7.8, sales or revenues rose to 48.9 from 41.3, the unfilled orders index reversed to positive 3.4 from negative 4.9, the inventories index rebounded to positive 6.4 from negative 1.5, the number of full time employees index dropped to 10.3 from 16.6, and the average employee workweek slipped to 24.3 from 25.5.
The six months from now regional general business conditions index increased to 52.4 from 30.3, while the company general business conditions index grew to 53.6 from 43.9.