Philadelphia Fed nonmanufacturing index
- Nonmanufacturing business activity index -11 versus -20.3 last month
- Firm level business activity +10.3 versus -4.9 last month
- New orders -8.6 versus -16.1 last month
- Employment +14.7 versus +8.2 last month
- Wages and benefit cost index 32.8 versus 34.2 last month
From the Philadelphia Fed:
Firms responding to the November Nonmanufacturing Business Outlook Survey indicated overall improvement in business activity. The indexes for general activity at the firm level and sales/revenues returned to positive territory for the first time since July. The index for new orders rose but remained negative. The firms continued to report higher full- and part-time employment overall, and the prices paid and prices received indexes both indicate overall increases in prices. The respondents continue to expect growth at their own firms over the next six months.
This article was written by Greg Michalowski at www.forexlive.com. Source