The region's non-manufacturing sector "grew at a slightly slower pace" in September, as the general business conditions index declined to 23.7 from 24.8 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 16.7 from 19.5.
The prices paid index was 29.9, up from 10.6 last month, new orders index slid to 10.6 from 14.7, sales or revenues dropped to 11.1 from 22.5, the unfilled orders index surged to positive 9.0 from negative 0.7, the inventories index narrowed to negative 1.1 from negative 4.2, prices received increased to 13.2 from 10.5, the number of full time employees index rose to 19.3 from 10.0, and the average employee workweek grew to 12.5 from 12.3.
The six months from now regional general business conditions index climbed to 39.8 from 34.4, while the company general business conditions index gained to 52.7 from 43.7.
