Philly Non-Fac­tory In­dex Plunges as Prices Drop

The Bond Buyer - - Market News - — Gary E. Siegel

The re­gion’s ser­vices sec­tor de­cel­er­ated, as the gen­eral busi­ness con­di­tions in­dex slumped to 3.9 in De­cem­ber from 43.3 in Novem­ber, this month’s Fed­eral Re­serve Bank of Philadel­phia non-man­u­fac­tur­ing Re­port on Busi­ness, re­leased Fri­day, in­di­cates.

At the com­pany level, the gen­eral busi­ness ac­tiv­ity in­dex plunged to 3.0 from 42.4.

The prices paid in­dex was 18.3, down from an all-time high of 37.5 last month, while prices re­ceived dropped to 3.8 from 25.8.

New or­ders in­dex fell to 12.7 from 28.2, sales or rev­enues de­clined to 13.4 from 48.9, the un­filled or­ders in­dex rose to 3.9 from 3.4, the in­ven­to­ries in­dex climbed to 8.2 from 6.4, the num­ber of full time em­ploy­ees in­dex dropped to 9.6 from 10.3, and the av­er­age em­ployee work­week gained to 24.5 from 24.3.

The six months from now re­gional gen­eral busi­ness con­di­tions in­dex slumped to 19.2 from 52.4, while the com­pany gen­eral busi­ness con­di­tions in­dex fell to 37.5 from 53.6.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.