October 2021

                       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   30.7  40.3  41.2  16.5  23.8  20.0  46.9  20.9  22.7  24.2
Conditions

New Orders         15.9  47.1  36.6  16.3  30.8  32.1  42.4  37.2  16.1  26.2

Shipments          29.9  43.3  41.9  13.3  30.0  41.6  50.9  24.2  20.5  30.5

Unfilled Orders     5.4  30.1  51.7  17.4  12.7 -10.0  13.8  50.9  31.9 -18.1

Delivery Times     20.4  41.6  49.0   9.4  32.2   7.8  20.7  52.0  22.3  -1.7

Inventories        19.2  30.9  54.5  12.0  18.8  14.4  37.2  44.3  13.6  23.6

Prices Paid        67.3  73.3  21.9   3.0  70.3  53.5  65.3  28.1   1.2  64.1

Prices Received    52.9  58.4  33.5   7.3  51.1  62.2  58.8  38.4   0.0  58.8

Number of Emp.     26.3  31.2  65.4   0.5  30.7  38.6  45.1  42.0   7.6  37.5

Avg. Emp. Wrkwk.   29.3  33.4  61.1   5.6  27.8  15.4  35.1  52.8   7.9  27.2

Capital Ex.        --    --    --    --    --    23.6  37.6  52.3   5.2  32.4


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 October 18, 2021.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: October 21, 2021, at 8:30 a.m. ET.

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