November 2021

                       November vs. October          Six Months from Now
                                                     vs. November

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

General Business   23.8  41.8  55.4   2.8  39.0  24.2  45.2  32.4  16.7  28.5
Conditions

New Orders         30.8  47.7  52.0   0.3  47.4  26.2  46.6  29.6  18.6  28.0

Shipments          30.0  38.3  55.6   6.2  32.1  30.5  55.1  26.8  15.3  39.8

Unfilled Orders    12.7  37.0  53.3   9.6  27.4 -18.1  25.5  42.2  26.3  -0.8

Delivery Times     32.2  40.0  55.6   4.4  35.7  -1.7  19.5  56.4  21.0  -1.6

Inventories        18.8  26.1  60.2  12.6  13.5  23.6  25.9  57.2  11.8  14.1

Prices Paid        70.3  82.1  15.5   2.1  80.0  64.1  68.1  20.0   4.3  63.9

Prices Received    51.1  65.5  31.9   2.6  62.9  58.8  63.6  31.8   4.2  59.4

Number of Emp.     30.7  31.4  63.7   4.2  27.2  37.5  51.4  43.4   2.1  49.3

Avg. Emp. Wrkwk.   27.8  33.1  64.4   2.5  30.6  27.2  16.7  72.8   7.1   9.7

Capital Ex.        --    --    --    --    --    32.4  38.6  51.2   7.6  31.1


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 November 15, 2021.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: November 18, 2021, at 8:30 a.m. ET.

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