The region's non-manufacturing sector “reported continued growth,” although the general business conditions index decreased to 32.2 in October from 33.2 in September, 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 24.7 from 25.7.

The prices paid index was 28.3, up from 14.9 last month, new orders index dropped to 11.4 from 26.7, sales or revenues slid to 25.5 from 29.3, the unfilled orders index declined to 9.8 from 13.0, the inventories index reversed to positive 0.6 from negative 3.4, prices received grew to 14.3 from 8.4, the number of full time employees index soared to 17.3 from 3.8, and the average employee workweek dropped to 10.6 from 23.8.

The six months from now regional general business conditions index grew to 43.4 from 41.0, while the company general business conditions index fell to 38.0 from 49.3.

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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.