Summary of Returns
September 2017

                      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  18.9  38.9  43.6  15.1   23.8  42.3  63.5  21.0   8.3   55.2
Conditions

New Orders        20.4  44.8  38.3  15.3   29.5  49.1  64.8  18.5   7.8   56.9

Shipments         29.4  52.0  33.2  14.2   37.8  44.1  65.0  16.3   9.2   55.8

Unfilled Orders   14.5  26.3  63.5   9.3   17.0  16.9  25.3  51.2  13.1   12.2

Delivery Times    10.5  23.3  67.1   8.8   14.5   6.8  19.8  58.6  15.1    4.6

Inventories       -6.1  18.8  58.1  20.2   -1.4  26.2  35.1  38.9  16.2   18.9

Prices Paid       21.1  37.6  56.6   3.2   34.4  34.8  53.3  33.3   7.1   46.2

Prices Received   13.5  24.5  72.4   1.6   22.8  40.4  38.9  49.4   7.2   31.7

Number of Emp.    10.1  18.4  67.5  11.8    6.6  33.1  35.8  49.6   5.7   30.1

Avg. Emp. Wrkwk.  18.8  22.2  65.8  10.3   11.9  15.3  24.1  61.6   6.1   18.1

Capital Ex.       --    --    --    --    --     39.2  43.7  45.5   4.7   39.0


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 September 18, 2017.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: September 21, 2017, at 8:30 a.m. ET.

September 2017 Release

Manufacturing Business Outlook Survey Home Page

Downloading Historical Data for the Manufacturing Business Outlook Survey