Summary of Returns
February 2017

                       February vs. January          Six Months from Now
                                                     vs. February

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

General Business   23.6  48.2  42.0   4.8  43.3  56.6  58.1  26.0   4.6  53.5
Conditions

New Orders         26.0  43.9  44.1   5.9  38.0  54.5  58.8  28.5   7.3  51.5

Shipments          20.5  37.7  52.5   9.1  28.6  59.1  58.3  28.6   6.6  51.7

Unfilled Orders    10.7  24.7  57.1  14.1  10.7  25.8  24.8  59.9   5.3  19.5

Delivery Times      5.4   8.8  82.9   4.8   4.1  14.2  18.0  69.5   6.6  11.5

Inventories        12.2  11.6  68.0  16.3  -4.7  10.9  28.5  45.0  14.5  14.1

Prices Paid        32.5  33.3  63.3   3.4  29.9  49.0  53.4  38.7   2.3  51.1

Prices Received    26.8  21.7  64.5  11.1  10.6  27.5  35.1  46.7  11.6  23.5

Number of Emp.     12.8  15.3  74.0   4.2  11.1  38.6  34.1  47.2   5.6  28.5

Avg. Emp. Wrkwk.    6.8  21.1  66.1   7.5  13.6  22.5  29.9  50.0  10.0  19.9

Capital Ex.        --    --    --    --    --    21.9  30.3  48.1   8.3  22.1


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 percent because of rounding,
           omission by respondents, or both.
       (4) Survey results reflect data received through February 13, 2017.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: February 16, 2017, at 8:30 a.m. ET.

February 2017 Release

Manufacturing Business Outlook Survey Home Page

Downloading Historical Data for the Manufacturing Business Outlook Survey