Summary of Returns
April 2021

                       April vs. March               Six Months from Now
                                                     vs. April

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

General Business   44.5  58.6  29.3   8.4  50.2  59.1  71.0  22.5   4.4  66.6
Conditions

New Orders         38.2  49.1  36.3  13.1  36.0  48.2  65.5  25.0   6.0  59.5

Shipments          22.0  39.8  45.7  14.5  25.3  53.4  68.1  23.4   5.1  63.0

Unfilled Orders    19.3  36.0  54.2   8.8  27.2  10.0  26.9  50.5  22.0   4.9

Delivery Times     28.2  33.6  59.9   5.8  27.8  16.4  17.6  65.9  14.1   3.5

Inventories        14.4  24.1  65.0   6.8  17.3  24.3  36.9  39.6  15.2  21.7

Prices Paid        72.6  71.4  23.0   2.3  69.1  63.4  74.5  20.1   3.0  71.5

Prices Received    30.2  35.7  59.7   1.3  34.5  46.9  65.7  29.4   2.0  63.6

Number of Emp.     27.4  35.1  59.6   4.2  30.8  46.5  56.1  38.9   0.4  55.7

Avg. Emp. Wrkwk.   36.4  35.5  56.9   5.7  29.8  11.4  31.4  55.7   9.3  22.0

Capital Ex.        --    --    --    --    --    33.8  40.1  52.4   3.5  36.7


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 April 12, 2021.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: April 15, 2021 at 8:30 a.m. ET.

April 2021 Release
Manufacturing Business Outlook Survey Home Page
Downloading Historical Data for the Manufacturing Business Outlook Survey