The region's non-manufacturing sector climbed in February, as the general business conditions index surged to 46.9 from 8.8 in January, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.
At the company level, the general business activity index soared to 51.0 from 8.8.
The prices paid index was 16.3, up from 14.7 last month, new orders index grew to 32.7 from 14.7, sales or revenues increased to 42.9 from 8.8, the unfilled orders index rose to 8.2 from zero, the inventories index reversed to positive 8.2 from negative 2.9, prices received increased to 20.4 from 2.9, the number of full time employees index declined to 14.3 from 17.6, the number of part time employees index rose to 24.5 from 20.6, and the average employee workweek gained to positive 16.3 from negative 5.9.
The six months from now regional general business conditions index slid to 81.6 from 82.4 in last month's survey, while the company general business conditions index rose to 81.6 from 61.8.
