Plunge in the regional business activity index
- Philadelphia Fed nonmanufacturing business index plunges to -96.4 in April versus -35.1 in March
- new orders index -67.2 versus -16.4 in March
- nonmanufacturing full-time employment index -47.5 versus -1.7 in March
- wage and benefit costs index -35.7 versus +26.6 in March
- nonmanufacturing firm level business activity index minus 82.5 in April versus -12.8 in March
- sales/revenues -87.9 versus -4.9 in March
- unfilled orders -18.8 versus -1.5 in March
- inventories +1.9 versus -1.7 March
- prices paid -0.4 versus +6.0 in March
- prices received -15.4 versus +0.5 in March
- full-time jobs -47.5 versus -1.7 March
- part-time jobs -58.9 versus -11.2 in March
- average workweek -50.7 versus -5.2 in March
- capital expenditures for plant -41.3 versus 10.6 in March
- capital expenditures for equipment -40.5 versus 22.6 in March
- six-month future activity index -45.8 versus -36.9 in March
- future activity in firm -24.5 versus -16.3 in March
No matter how you slice it the data is very weak including the 6 months from now future activity
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