- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
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|