Summary of Returns
June 2021

                       June vs. May                  Six Months from Now
                                                     vs. June

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

General Business   31.5  41.6  47.5  10.9  30.7  52.7  75.4  18.4   6.2  69.2
Conditions

New Orders         32.5  36.4  48.6  14.2  22.2  50.3  74.1  20.1   5.7  68.4

Shipments          21.0  41.2  44.7  14.0  27.2  57.4  75.8  20.4   3.9  71.9

Unfilled Orders    40.4  33.4  55.7  10.9  22.5  15.9  35.8  47.7  16.6  19.2

Delivery Times     41.5  39.1  51.0   9.8  29.3  -4.0  37.3  43.7  16.7  20.6

Inventories        25.6  32.0  53.9  14.1  17.9  16.9  31.9  46.0  22.1   9.8

Prices Paid        76.8  81.6  17.4   1.0  80.7  66.7  76.5  18.1   5.4  71.1

Prices Received    41.0  51.4  46.1   1.7  49.7  58.4  76.4  15.1   8.5  67.8

Number of Emp.     19.3  38.5  52.4   7.8  30.7  52.1  59.4  35.2   5.4  54.0

Avg. Emp. Wrkwk.   35.5  28.3  63.4   8.2  20.1  23.1  31.9  57.9  10.2  21.6

Capital Ex.        --    --    --    --    --    37.4  44.0  49.7   3.6  40.4


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 because of rounding,
           omission by respondents, or both.
       (4) Survey results reflect data received through June 14, 2021.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: June 17, 2021, at 8:30 a.m. ET.

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