December Philly Fed non-manufacturing survey -17.1 vs -13.6 prior

  • Non-manufacturing data from the Philly Fed
  • Prior -13.6
  • Firm-level activity +3.4 vs -2.6 prior
  • New orders -6.1 vs -6.3 prior
  • Full time employment +3.4 vs +10.0 prior
  • Wage and benefit costs +42.9 vs +41.5 prior

This is a low-tier indicator but it shows the ongoing slowdown on the services side.

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