U.S. regional non-manufacturing sector continues to expand in September
HOUSTON, Sept. 25 (Xinhua) -- Business activities in the non-manufacturing sector in some eastern U.S. states continued to grow in September, according to report by the Federal Reserve Bank of Philadelphia on Tuesday.
The September Nonmanufacturing Business Outlook Survey, conducted by the Federal Reserve Bank of Philadelphia, found that the respondents remained optimistic about growth over the next six months.
The diffusion index for current general activity at the firm level rose from 41.1 in August to 46.8 in September.
The new orders index fell 2 points to 26.7.
The sales/revenues index rose from 40.5 in August to 42.8 in September, its highest reading since February 2015.
The full-time employment index increased from 32.2 in August to 36.7 in September. This marks the third consecutive month that the series has reached an all-time high.
The prices paid index edged down 1 point to 26.3. The prices received index edged down from 26.9 in August to 24.3 in September but remains elevated.
The diffusion index for future activity at the firm level increased from 50.7 to 53.6. The future regional activity index edged down less than 1 point from last month to 45.6.
The Non-manufacturing Business Outlook Survey is a monthly survey of non-manufacturers in the Third Federal Reserve District covering eastern Pennsylvania, southern New Jersey, and Delaware.
The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington D.C., make up the Federal Reserve System.