The region's non-manufacturing sector “continued to expand,” as the general business conditions index increased to 33.2 in September from 31.8 in August, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.

At the company level, the general business activity index fell to 25.7 from 30.7.

The prices paid index was 14.9, down from 22.7 last month, new orders index gained to 26.7 from 19.4, sales or revenues rose to 29.3 from 24.5, the unfilled orders index climbed to 13.0 from 8.3, the inventories index reversed to negative 3.4 from positive 3.3, prices received grew to 8.4 from 6.0, the number of full time employees index climbed to 3.8 from 3.1, and the average employee workweek rose to 23.8 from 22.4.

The six months from now regional general business conditions index fell to 41.0 from 44.1, while the company general business conditions index gained to 49.3 from 44.9.

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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.