Summary of Returns
January 2019

                       January vs. December          Six Months from Now
                                                     vs. January

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

General Business    9.1  30.4  53.1  13.4  17.0  29.9  46.4  28.5  15.2  31.2
Conditions

New Orders         13.3  38.3  44.8  16.9  21.3  38.5  46.8  33.0  14.6  32.2

Shipments          12.4  30.9  49.0  19.5  11.4  35.0  47.3  36.4  11.0  36.2

Unfilled Orders     9.1  20.9  60.9  15.5   5.4  10.6  17.4  61.2  17.8  -0.4

Delivery Times      5.5  23.0  65.9   9.6  13.4   2.0  12.8  70.8  12.9  -0.1

Inventories         2.6  13.4  65.7  20.9  -7.6   2.3  24.4  54.4  16.6   7.8

Prices Paid        38.9  39.8  53.1   7.1  32.7  60.9  45.1  46.4   5.2  39.9

Prices Received    29.0  28.8  66.6   4.0  24.8  47.9  38.2  50.6   4.1  34.1

Number of Emp.     19.1  22.1  63.4  12.5   9.6  33.5  40.9  48.9   6.2  34.7

Avg. Emp. Wrkwk.    4.0  19.8  61.5  13.9   6.0  10.2  24.4  58.8   7.4  17.0

Capital Ex.        --    --    --    --    --    34.5  38.8  48.3   7.2  31.6


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 January 14, 2019.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: January 17, 2019, at 8:30 a.m. ET.

January 2019 Release

Manufacturing Business Outlook Survey Home Page

Downloading Historical Data for the Manufacturing Business Outlook Survey