The region's non-manufacturing sector dropped in January, as the general business conditions index plunged to 5.1 from 26.7 in December, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.
At the company level, the general business activity index slid to 21.4 from 24.8.
The prices paid index was 16.8, down from 19.7 last month, new orders index slipped to 14.5 from 20.5, sales or revenues decreased to 14.0 from 26.1, the unfilled orders index declined to 1.7 from 3.3, the inventories index fell to 1.5 from 4.5, prices received gained to 16.7 from 15.5, the number of full time employees index slid to 12.8 from 16.6, and the average employee workweek grew to 19.2 from 10.6.
The six months from now regional general business conditions index plunged to 11.2 from 40.7, while the company general business conditions index dropped to 23.5 from 51.0.
The number in this report have been seasonally adjusted, the Fed said.
