Business Outlook Survey Table of Results, March 
Summary of Returns
March 2020

                       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   36.7  17.7  51.2  30.3 -12.7  45.4  50.7  29.1  15.5  35.2
Conditions

New Orders         33.6  15.6  50.2  31.1 -15.5  54.0  49.1  34.7  12.4  36.7

Shipments          25.2  21.0  54.9  20.8   0.2  51.9  51.7  37.0   9.9  41.8

Unfilled Orders     7.4  11.4  69.9  18.7  -7.4  17.6  24.7  59.6   9.7  15.0

Delivery Times      2.7   4.6  81.3  13.7  -9.1   9.3  16.4  73.8   5.7  10.7

Inventories        11.8  22.3  56.9  20.6   1.7  10.2  32.1  46.0  15.1  16.9

Prices Paid        16.4  18.3  68.2  13.5   4.8  32.2  24.7  65.3   6.1  18.5

Prices Received    17.1  14.3  77.7   7.4   6.8  37.9  27.7  61.6   6.2  21.5

Number of Emp.      9.8  16.5  67.8  12.4   4.1  24.0  30.4  64.7   0.6  29.8

Avg. Emp. Wrkwk.   10.3  13.1  71.4  12.6   0.5  26.8  20.9  67.9   6.4  14.5

Capital Ex.        --    --    --    --    --    29.8  18.3  69.8   6.3  12.0


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 March 16, 2020.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: March 19, 2020, at 8:30 a.m. ET.

March 2020 Release
Manufacturing Business Outlook Survey Home Page
Downloading Historical Data for the Manufacturing Business Outlook Survey