Summary of Returns
October 2020

                       October vs. September         Six Months from Now
                                                     vs. October

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

General Business   15.0  46.8  34.1  14.5  32.3  56.6  65.7  22.5   3.0  62.7
Conditions

New Orders         25.5  54.6  33.5  11.9  42.6  56.9  58.5  29.8   6.8  51.6

Shipments          36.6  57.4  30.1  10.9  46.5  47.9  63.4  19.8  11.8  51.7

Unfilled Orders     0.4  24.0  59.5  15.7   8.3  24.0  27.7  56.7  11.5  16.2

Delivery Times     12.2  25.0  70.6   4.4  20.5   7.2  12.3  71.8  10.3   1.9

Inventories       -10.8  19.2  58.6  21.6  -2.5  11.4  31.8  47.1  15.6  16.2

Prices Paid        25.1  28.5  71.5   0.0  28.5  57.7  43.8  50.6   1.5  42.3

Prices Received    18.4  14.0  85.9   0.0  14.0  42.4  41.0  55.2   0.0  41.0

Number of Emp.     15.7  22.8  64.2  10.1  12.7  42.7  52.3  35.2   6.6  45.7

Avg. Emp. Wrkwk.    7.8  29.6  66.2   4.3  25.3  30.3  22.0  70.9   2.2  19.8

Capital Ex.        --    --    --    --    --    31.0  36.5  58.4   0.0  36.5


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 October 13, 2020.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: October 15, 2020, at 8:30 a.m. ET.

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