Summary of Returns
May 2018

                       May vs. April                 Six Months from Now
                                                     vs. May

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

General Business   23.2  43.2  47.8   8.8  34.4  40.7  48.3  30.1   9.6  38.7
Conditions

New Orders         18.4  48.4  42.4   7.7  40.6  37.2  51.5  32.9  11.2  40.3

Shipments          23.9  38.9  47.9  13.1  25.8  47.9  58.6  25.1  11.8  46.8

Unfilled Orders     7.8  25.8  63.0  10.6  15.3   7.6  23.2  59.8  13.8   9.4

Delivery Times     20.7  24.3  69.2   5.8  18.5   9.6  15.8  70.3   8.3   7.5

Inventories         9.5  25.3  54.3  17.3   8.1  16.5  28.5  52.7  13.8  14.8

Prices Paid        56.4  54.6  42.7   2.0  52.6  66.8  63.8  32.9   0.4  63.4

Prices Received    29.8  36.4  63.6   0.0  36.4  47.9  36.1  55.1   2.5  33.6

Number of Emp.     27.1  36.7  55.1   6.4  30.2  34.6  49.2  38.8   6.3  42.8

Avg. Emp. Wrkwk.   21.6  36.4  61.4   2.0  34.4  14.0  19.2  67.1   9.1  10.1

Capital Ex.        --    --    --    --    --    29.8  30.9  54.7   9.2  21.6


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 percent because of rounding,
           omission by respondents, or both.
       (4) Survey results reflect data received through May 14, 2018.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: May 17, 2018, at 8:30 a.m. ET.

May 2018 Release

Manufacturing Business Outlook Survey Home Page

Downloading Historical Data for the Manufacturing Business Outlook Survey