The region's non-manufacturing sector “continued to expand,” as the general business conditions index decreased to 19.5 in January from 29.4 in December, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

At the company level, the general business activity index grew to 29.3 from 20.6.

The prices paid index was 27.8, up from 27.1 last month, new orders index soared to 21.6 from 12.2, sales or revenues slid to 23.9 from 28.7, the unfilled orders index slipped to 8.0 from 9.7, the inventories index reversed to negative 3.6 from positive 2.6, prices received climbed to 17.3 from 10.1, the number of full time employees index slumped to negative 0.4 from positive 10.5, and the average employee workweek fell to 19.2 from 23.2.

The six months from now regional general business conditions index rose to 45.4 from 38.5, while the company general business conditions index increased to 62.6 from 45.1.

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Gary Siegel

Gary Siegel

Gary Siegel has been at The Bond Buyer since 1989, currently covering economic indicators and the Federal Reserve system.