Summary of Returns
March 2018

                       March vs. February            Six Months from Now
                                                     vs. March

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

General Business   25.8  36.5  45.1  14.3  22.3  41.2  57.8  29.7   9.9  47.9
Conditions

New Orders         24.5  52.1  31.4  16.4  35.7  49.1  60.3  27.1  11.5  48.8

Shipments          15.5  44.8  38.7  12.5  32.4  51.7  54.7  28.8  11.3  43.4

Unfilled Orders    14.5  29.4  59.6   9.3  20.1  18.8  24.8  58.6  14.0  10.8

Delivery Times      4.5  22.5  69.0   8.5  14.0  16.6  20.8  63.5  11.2   9.6

Inventories        -0.9  28.4  59.1  11.9  16.5  27.5  32.7  46.3  18.4  14.3

Prices Paid        45.0  43.7  54.8   1.1  42.6  65.2  64.0  32.5   1.2  62.8

Prices Received    23.9  21.7  76.3   1.1  20.7  49.5  53.7  43.8   2.5  51.3

Number of Emp.     25.2  34.6  55.5   9.0  25.6  40.4  43.2  47.3   6.1  37.1

Avg. Emp. Wrkwk.   13.7  20.0  70.6   7.2  12.8  14.7  29.0  57.0   7.1  21.8

Capital Ex.        --    --    --    --    --    40.4  45.4  39.1   9.5  35.9


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 March 12, 2018.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: March 15, 2018, at 8:30 a.m. ET.

March 2018 Release

Manufacturing Business Outlook Survey Home Page

Downloading Historical Data for the Manufacturing Business Outlook Survey