Philadelphia Fed nonmanufacturing business activity 44.8 versus 56.7 in June

Philadelphia Fed non-manufacturing indices

• nonmanufacturing business activity 44.8 versus 56.7 in June
• nonmanufacturing regional business activity index 53.1 versus 59.6 in June
• full-time employment index 24.8 versus 4.3 in June. This month 36% reported increases while 11% reported decreases.
• Part-time employment index rose 8 points to 9.6.
• The average workweek increase 5points to 25.4
• wages and benefit cost index 50.2 versus 42.6 in June
• new orders index 31.8 versus 27.41 June
• prices paid index hit its all-time high rising six points to 54.8. A total of 55% reportedd increases and only 1% reported decreases.
• Prices received moved to 29.5 from 28.9 in June
• the future activity index strengthen to 79.2 from 74.0 in June. Over 80% of the firm's expected increase in activity over the next six months compared with 1% that expected decreases and 18% that expected no change. The future regional activity index increase four points to 74.8 in July