Summary of Returns
August 2022

                       August vs. July               Six Months from Now
                                                     vs. August

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

General Business  -12.3  26.2  46.9  19.9   6.2 -18.6  18.2  45.8  28.8 -10.6
Conditions

New Orders        -24.8  28.1  38.8  33.1  -5.1 -12.4  21.5  46.1  29.9  -8.3

Shipments          14.8  40.3  44.2  15.5  24.8  12.8  28.3  54.2  16.3  12.0

Unfilled Orders   -10.4  25.3  47.6  27.1  -1.8 -29.6   6.2  47.9  44.4 -38.2

Delivery Times    -10.2  18.4  66.0  15.7   2.7 -32.9   9.3  54.1  36.5 -27.2

Inventories        -9.3  20.6  60.5  18.3   2.3  -6.8  24.8  53.0  21.1   3.7

Prices Paid        52.2  56.0  31.5  12.4  43.6  45.0  60.7  25.0  12.9  47.8

Prices Received    30.3  30.9  61.6   7.5  23.3  34.6  53.6  36.9   8.6  45.0

Number of Emp.     19.4  27.9  68.3   3.8  24.1  16.5  33.8  57.4   8.8  25.1

Avg. Emp. Wrkwk.    6.4   6.1  93.0   0.0   6.1   3.4  13.2  74.4   8.8   4.4

Capital Ex.        --    --    --    --    --     4.4  26.8  59.9   8.8  18.0


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 August 15, 2022.

Federal Reserve Bank of Philadelphia
Manufacturing Business Outlook Survey
Released: August 18, 2022, at 8:30 a.m. ET.

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