- US: Advance Durable Goods, Advance Trade & Inventories (Mar)
- Brazil: PPI (Mar); Mexico: Compensation and Productivity (Feb)
- Canada: Payroll Employment, Earnings, & Hours (Feb)
- Spain: Advanced HICP & CPI, Construction Business Survey Press (Apr)
- Belgium: CPI (Apr)
- Germany: GfK Consumer Climate Survey, State CPI: Bavaria, Saxony, Berlin, Hesse, North Rhine-Westphalia, Brandenburg (Apr)
- Building Permits (Feb)
- UK: Motor Vehicle Production (Mar)
- more updates...
Economy in Brief
U.S. Gasoline Prices Are Little-Changed; Crude Oil Falls
Regular gasoline prices of $2.45 per gallon last week (13.3% y/y)...
Japan's METI Indexes Show Ongoing Gains
The services sector is assessed by the METI indexes where it is named the 'tertiary sector.' That sector index rose to 104.1 in February...
U.S. New Home Sales & Prices Strengthen
Sales of new single-family homes increased 5.8% (15.6% y/y) during March to 621,000...
U.S. Consumer Confidence Backpedals
The Conference Board Consumer Confidence Index fell 3.7% during April (+27.0% y/y) to 120.3...
U.S. FHFA House Price Index Regains Strength
The FHFA U.S. house prices increased 0.8% during February (6.5% y/y)...
French Manufacturing and Service Sectors Weaken But Stay on Trend or Hold Recent Gains
The French manufacturing sector trend index is down to 1 in April from 3 in March...
by Tom Moeller October 25, 2016
The Federal Reserve Bank of Philadelphia reported that its October Index of Nonmanufacturing Sector Activity at the company level was little changed at 16.3, the lowest level since July 2015. It remained down sharply versus 53.9 in February 2015. The expectations index for general activity at the company level fell back to 40.4, its lowest level since June. These diffusion indexes are seasonally adjusted.
Declines in the component readings were broad-based. Lower new orders and lower shipments, as well as a weaker full-time employment index and hours-worked, prompted the deterioration in this month's figure. The part-time employment reading remained depressed. Wage & benefit costs rebounded to the highest level since October 2014. Capital expenditures on equipment and software increased after a sharp September decline.
The prices paid series reversed most of its improvement last month.
Regional general activity eased to the lowest point since June. Expectations for the region were down slightly following strength earlier this year.
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)||Oct||Sep||Aug||Oct'15||2015||2014||2013|
|General Activity - Company||16.3||16.7||19.5||35.6||31.4||38.8||29.8|
|Sales or Revenue||6.0||11.1||22.5||17.9||23.6||30.2||27.0|
|Number of Full-Time Permanent Employees||8.5||19.3||10.0||23.1||15.6||17.3||18.8|
|Expected General Activity - Company||40.4||52.7||43.7||56.8||54.0||60.1||47.4|