The region's non-manufacturing sector "continued to expand at a steady pace" in August, although the general business conditions index declined to 24.8 from 28.8 in July, this month's Federal Reserve Bank of Philadelphia Report on Business, released Tuesday, indicates.
At the company level, the general business activity index dipped to 19.5 from 20.3.
The prices paid index was 10.6, down from 23.3 last month, new orders index slid to 14.7 from 29.6, sales or revenues gained to 22.5 from 22.2, the unfilled orders index dropped to negative 0.7 from positive 4.8, the inventories index fell to negative 4.2 from positive 6.7, prices received decreased to 10.5 from 12.9, the number of full time employees index rose to 10.0 from 1.9, and the average employee workweek grew to 12.3 from 7.3.
The six months from now regional general business conditions index slipped to 34.4 from 43.0, while the company general business conditions index declined to 43.7 from 46.3.
