The region's non-manufacturing sector surged in March, as the general business conditions index grew to 13.9 from 3.6 in February, this month's Federal Reserve Bank of Philadelphia Report on Business indicates.
At the company level, the general business activity index fell to 17.5 from 25.6.
The prices paid index was 3.2, down from 18.9 last month, new orders index crept to 17.0 from 14.6, sales or revenues increased to 19.0 from 9.1, the unfilled orders index gained to 5.7 from 2.6, the inventories index rose to positive 8.3 from negative 0.5, prices received gained to 23.5 from 22.4, the number of full time employees index slid to 6.1 from 11.1, and the average employee workweek fell to 6.0 from 23.2.
The six months from now regional general business conditions index soared to 32.9 from 13.7, while the company general business conditions index rose to 42.2 from 30.5.
