Global| Jul 23 2019TT
Summary
The Federal Reserve Bank of Philadelphia reported that its Nonmanufacturing Business Index of current conditions at the company level declined to 12.2 during June.... The Philadelphia Fed figures are diffusion indexes which are [...]
The Federal Reserve Bank of Philadelphia reported that its Nonmanufacturing Business Index of current conditions at the company level declined to 12.2 during June....
The Philadelphia Fed figures are diffusion indexes which are calculated by subtracting the percent of respondents reporting poorer business conditions from those reporting improvement. So, readings above zero indicate more positive than negative responses. These indexes have a good correlation with growth in the series covered. The data are available in Haver's SURVEYS database.
| Federal Reserve Bank of Philadelphia: Nonmanufacturing Business Outlook Survey (Diffusion Index, SA) | Jul | Jun | May | Jul'18 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|
| General Activity - Company | 24.6 | 12.2 | 28.1 | 34.9 | 33.6 | 27.3 | 19.7 |
| New Orders | 25.5 | 14.3 | 10.6 | 27.6 | 24.3 | 19.1 | 15.8 |
| Sales or Revenue | 22.5 | 17.0 | 26.6 | 34.8 | 30.9 | 27.9 | 16.1 |
| Inventories | 8.6 | 2.9 | -3.2 | 5.4 | 5.2 | 3.8 | 4.3 |
| Number of Full-Time Permanent Employees | 21.1 | 23.8 | 20.5 | 26.2 | 18.2 | 14.8 | 11.7 |
| Part-Time/Temporary/Contract Employees | 11.6 | 20.2 | 11.3 | 12.5 | 15.6 | 12.4 | 11.8 |
| Prices Paid | 12.2 | 22.3 | 25.9 | 28.4 | 28.3 | 21.4 | 17.6 |
| Wage & Benefit Costs | 37.0 | 43.6 | 38.9 | 45.1 | 40.0 | 33.4 | 31.2 |
| Expected General Activity - Company | 36.0 | 26.4 | 56.9 | 44.0 | 50.2 | 50.1 | 43.2 |
Carol Stone, CBE
AuthorMore in Author Profile »Carol Stone, CBE came to Haver Analytics in 2003 following more than 35 years as a financial market economist at major Wall Street financial institutions, most especially Merrill Lynch and Nomura Securities. She has broad experience in analysis and forecasting of flow-of-funds accounts, the federal budget and Federal Reserve operations. At Nomura Securites, among other duties, she developed various indicator forecasting tools and edited a daily global publication produced in London and New York for readers in Tokyo. At Haver Analytics, Carol is a member of the Research Department, aiding database managers with research and documentation efforts, as well as posting commentary on select economic reports. In addition, she conducts Ways-of-the-World, a blog on economic issues for an Episcopal-Church-affiliated website, The Geranium Farm. During her career, Carol served as an officer of the Money Marketeers and the Downtown Economists Club. She has a PhD from NYU's Stern School of Business. She lives in Brooklyn, New York, and has a weekend home on Long Island.
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