Philadelphia Fed business Outlook index for September 2019
The Philadelphia Fed business outlook index for September came in higher-than-expected at 12.0 versus 10.5 estimate. However it was was is down from the 16.8 reading in August.
- Employment index 15.8 versus 3.6 last month
- new orders 24.8 versus 25.8 last month
- prices paid 33.0 versus 12.8 last month. This is the highest since December 2018
- prices received 20.8 versus 13.0 last month. This is the highest since March
- future index 20.8 versus 32.6 last month
- shipments 26.4 versus 19.0 last month
- unfilled orders 17.6 versus 9.1 last month
- delivery time 11.6 versus 9.3 last month
- inventories 21.8 versus 8.7 last month
- average employee workweek 13.0 versus 6.8 last month
Better than expectations but less then the last months. Prices are moving higher.
In this month's special questions, the firms were asked about spending plans related to achieving capital growth
- Modernization of manufacturing processes: 69%
- expansion of facilities: 29%
- launching new units: 24%
