September 2021

                       September vs. August          Six Months from Now
                                                     vs. September

                 Prev.                         Prev.
                 Diff.  Inc. No ch. Dec. Diff. Diff.  Inc. No ch. Dec. Diff.
                 Index                   Index Index                   Index

General Business   19.4  33.6  60.6   2.9  30.7  33.7  32.5  41.2  12.5  20.0
Conditions

New Orders         22.8  30.9  52.1  15.0  15.9  38.0  48.7  33.9  16.6  32.1

Shipments          18.9  34.4  56.3   4.4  29.9  40.8  56.0  26.5  14.3  41.6

Unfilled Orders     7.0  18.9  65.2  13.5   5.4   4.2  18.9  48.8  28.9 -10.0

Delivery Times     26.3  26.7  64.2   6.3  20.4   1.8  24.7  54.4  16.9   7.8

Inventories       -18.1  26.0  60.5   6.8  19.2  20.1  26.5  58.5  12.1  14.4

Prices Paid        71.2  71.3  23.0   4.0  67.3  54.6  59.6  27.2   6.1  53.5

Prices Received    53.9  54.8  41.6   1.8  52.9  70.1  62.9  30.9   0.7  62.2

Number of Emp.     32.6  31.2  62.1   4.9  26.3  42.7  44.4  46.4   5.8  38.6

Avg. Emp. Wrkwk.   24.5  29.3  70.0   0.0  29.3  20.8  23.4  65.8   8.0  15.4

Capital Ex.        --    --    --    --    --    33.7  33.3  53.8   9.7  23.6


Notes: (1) Diffusion indexes represent the percentage of respondents indicating
           an increase minus the percentage indicating a decrease.
       (2) All data are seasonally adjusted.
       (3) Percentages may not sum to 100 because of rounding,
           omission by respondents, or both.
       (4) Survey results reflect data received through September 13, 2021.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: September 16, 2021, at 8:30 a.m. ET.

September 2021 Release
Manufacturing Business Outlook Survey Home Page
Downloading Historical Data for the Manufacturing Business Outlook Survey