Summary of Returns
July 2017

                     July vs. June             Six Months from Now
                                               vs. July

                Prev.                     Prev.
                Diff.Inc. No chDec. Diff. Diff.Inc. No chDec. Diff.
                Index               Index Index               Index

General Business 27.6 37.3 44.9 17.8  19.5 31.3 51.3 27.1 14.4 36.9
Conditions

New Orders       25.9 30.5 41.1 28.4   2.1 31.9 53.2 29.1 13.8 39.4

Shipments        28.5 31.8 48.3 19.6  12.2 38.7 44.1 32.7 18.2 25.9

Unfilled Orders  14.0 19.9 63.7 12.6   7.2  3.4 25.2 56.2 13.8 11.4

Delivery Times   13.9 14.9 72.4  7.5   7.4  0.2 10.5 76.1  8.9  1.6

Inventories       5.8 22.1 56.5 21.4   0.7 20.4 38.6 42.6 12.8 25.8

Prices Paid      23.6 24.0 68.5  4.9  19.1 40.9 50.6 41.0  4.0 46.6

Prices Received  20.6 17.3 71.8  8.3   9.0 28.7 34.9 55.7  5.3 29.7

Number of Emp.   16.1 16.5 74.6  5.6  10.9 30.0 34.4 55.4  7.4 27.0

Avg. Emp. Wrkwk. 20.5 17.8 67.1 13.9   3.8  8.4 17.7 64.7 13.3  4.3

Capital Ex.      --   --   --   --    --   28.6 43.0 46.2  1.0 42.0


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 July 14, 2017.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: July 20, 2017, at 8:30 a.m. ET.

July 2017 Release

Manufacturing Business Outlook Survey Home Page

Downloading Historical Data for the Manufacturing Business Outlook Survey