Summary of Returns
July 2019

                       July vs. June                 Six Months from Now
                                                     vs. July

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

General Business    0.3  34.8  50.7  13.0  21.8  21.4  52.8  27.0  14.8  38.0
Conditions

New Orders          8.3  35.7  43.8  16.8  18.9  31.5  59.4  25.8  13.7  45.7

Shipments          16.6  43.6  37.4  18.7  24.9  41.3  60.8  19.7  19.5  41.3

Unfilled Orders    10.2  22.6  55.2  18.9   3.7  -2.3  25.6  52.8  17.9   7.7

Delivery Times     15.6  20.1  72.1   5.2  15.0   2.4  15.7  74.7   9.6   6.2

Inventories         2.4  24.6  58.2  16.5   8.1  -0.9  23.6  55.1  21.3   2.3

Prices Paid        12.9  28.6  57.5  12.5  16.1  30.2  41.6  50.2   6.3  35.3

Prices Received     0.6  15.8  77.1   6.3   9.5  24.4  40.8  48.9   6.6  34.1

Number of Emp.     15.4  36.1  54.2   6.1  30.0  27.0  34.0  56.0   9.1  24.9

Avg. Emp. Wrkwk.    7.3  23.5  75.9   0.6  23.0  11.4  24.3  58.1  16.4   7.9

Capital Ex.        --    --    --    --    --    28.0  43.1  47.9   6.2  36.9


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 July 15, 2019.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: July 18, 2019, at 8:30 a.m. ET.

July 2019 Release

Manufacturing Business Outlook Survey Home Page

Downloading Historical Data for the Manufacturing Business Outlook Survey