Story thread · 2 reports / 1 sources

Philly Fed nonmanufacturing survey -22.0 vs -10.6 prior

investinglive.com · 5h · first reportShare

Regional activity -22.0 vs -10.6 prior (lowest since June) New orders -2.2 vs -10.1 prior Sales/revenues 6.8 vs 7.9 prior Full-time employment 19.0 vs 2.1 prior (highest since June 2022) Part-time employment 10.7 vs 1.1 prior Prices paid 37.8 vs 29.2 prior Prices received 20.0 vs 10.3 prior (highest since June) Wage and benefit costs 40.7 vs 39.2 prior Avg workweek 8.5 vs -13.4 prior Capex equipment & software 33.0 vs 8.8 prior Six-month firm activity outlook 20.3 vs 12.4 prior Six-month regional outlook 2.0 vs -6.3 prior This is a second-tier survey, but some of the internals are striking. The full-time employment index jumped 17 points to its best level in more than four years, with 27% of firms adding staff, up from 14% in August. That doesn't fit with the narrative of a low-hire, low-fire labor market, even though it's only one regional survey with a small sample. Some of the forwards indexes also improved. On the flipside, new orders and the overall headline were soft, while price