The region's non-manufacturing sector slumped in July, as the general business conditions index plunged to 8.1 from 54.1 in June, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.
At the company level, the general business activity index fell to 2.7 from 51.4.
The prices paid index was 18.9, down from 35.1 last month, new orders index slid to negative 5.4 from positive 27.0, sales or revenues decreased to negative 21.6 from positive 32.4, the unfilled orders index slid to negative 2.7 from positive 10.8, the inventories index declined to negative 2.7 from positive 5.4, prices received dropped to 5.4 from 32.4, the number of full time employees index fell to 5.4 from 24.3, the number of part time employees index declined to negative 2.7 from positive 32.4, and the average employee workweek slipped to zero from 18.9.
The six months from now regional general business conditions index held at 81.1, while the company general business conditions index decreased to 62.2 from 70.3.
