March 2022

                       March vs. February            Six Months from Now
                                                     vs. March

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

General Business   16.0  40.2  46.3  12.7  27.4  28.1  40.5  33.6  17.8  22.7
Conditions

New Orders         14.2  39.3  41.8  13.5  25.8  24.9  38.4  35.7  16.4  22.0

Shipments          13.4  41.7  41.2  11.5  30.2  44.8  41.0  41.4  10.4  30.6

Unfilled Orders    15.8  37.1  44.2  16.1  21.0 -18.2  15.2  41.9  31.1 -15.9

Delivery Times     23.0  45.8  45.3   6.1  39.7 -22.3  19.8  44.3  26.0  -6.2

Inventories         4.0  21.6  54.3  21.1   0.5   4.3  37.2  43.4   6.3  30.8

Prices Paid        69.3  87.2   6.5   6.2  81.0  60.2  74.5  12.6   3.1  71.3

Prices Received    49.8  56.6  38.3   2.1  54.4  53.3  71.7  14.7   3.2  68.5

Number of Emp.     32.3  43.7  47.6   4.8  38.9  36.6  41.8  47.0   1.1  40.7

Avg. Emp. Wrkwk.   10.8  27.5  61.1   6.1  21.4   2.4  17.9  68.1   3.4  14.5

Capital Ex.        --    --    --    --    --    21.5  28.1  54.9   3.3  24.8


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 March 14, 2022.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: March 17, 2022, at 8:30 a.m. ET.

March 2022 Release
Manufacturing Business Outlook Survey Home Page
Downloading Historical Data for the Manufacturing Business Outlook Survey