- Japan: **Japan Tokyo employment index rebased to 2015=100**
- Saudi Arabia: Non-Oil Foreign Trade (Feb); Kuwait: CPI (Mar); Tanzania: BOP, Trade, Depository Corporations Survey, Public Finance (Feb)
- Portugal: OMFIs Balance Sheet (Feb)
- Luxembourg: Employment and Unemployment (Mar)
- Kazakhstan: GDP by Income, Labor Productivity Index (Q4), Loans and Deposits, Monetary Aggregates, Banking System Surveys, Public Finance (Mar)
- more updates...
Economy in Brief
Fresh Six-Year PMI Highs for Euro Area
The 'fresh six-year high' is a pleasant surprise that continues, but...
Philadelphia Fed Factory Conditions Soften
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index fell to 22.0 during April...
U.S. Leading Economic Indicators Suggest Continued Expansion
The Conference Board's Composite Index of Leading Economic Indicators increased 0.4% (3.5% y/y) during March...
U.S. Initial Unemployment Insurance Applications Increase
Initial unemployment claims for unemployment insurance rose to 244,000 during the week ended April 15 (-5.1% y/y)...
Japan's 'Trade Trends' Stabilize on an Unstable Foundation
Japan trade trends, broadly considered, seem to be stabilizing...
U.S. Mortgage Loan Applications Fall
The MBA total Mortgage Applications Volume Index declined 1.8% last week (-24.9% y/y)...
by Tom Moeller May 24, 2016
The Federal Reserve Bank of Philadelphia reported that its Index of Nonmanufacturing Sector Activity at the company level was fairly steady in May, for a second month, at 18.2 versus 17.8 in April. The measure has been declining, however, since early last year. The expectations index for general activity deteriorated sharply, however, and reversed its April improvement. These diffusion indexes are seasonally adjusted.
To the upside were the new orders, sales, inventories and prices paid components.
The employment readings for full and part-time workers were roughly unchanged, as were unfilled orders. The capital expenditure figures also continued to trend sideways.
To the downside were prices received, employee workweek and wage & benefit costs.
The index of future general activity fell to the lowest level in three months.
The Philadelphia Fed figures are diffusion indexes which are calculated by subtracting the percent of respondents reporting poorer business conditions from those reporting improvement. Thus, they have a good correlation with growth in the series covered. The data is available in Haver's SURVEYS database.
|Federal Reserve Bank of Philadelphia: Nonmanufacturing Business Outlook Survey (Diffusion Index, SA)||May||Apr||Mar||May'15||2015||2014||2013|
|General Activity - Company||18.2||17.8||17.5||37.7||31.4||38.8||29.8|
|Sales or Revenue||23.6||9.6||19.0||30.5||23.6||30.2||27.0|
|Number of Full-Time Permanent Employees||10.6||7.5||6.1||7.5||15.6||17.3||18.8|
|Expected General Activity - Company||39.1||56.0||42.2||50.0||54.0||60.1||47.4|