Summary of Returns
November 2022

                      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 -8.7  16.5  46.7  35.9 -19.4 -14.9  29.9  27.0  37.0  -7.1
Conditions

New Orders      -15.9  19.7  44.3  35.9 -16.2 -16.7  29.4  30.9  34.2  -4.8

Shipments        8.6   32.7  41.7  25.6  7.0   4.7   36.3  34.6  26.1  10.2

Unfilled Orders -22.5  15.4  46.4  38.3 -22.9 -23.5  24.2  35.6  36.0 -11.8

Delivery Times  -12.6  10.1  71.1  18.8  -8.8  -6.3  15.2  53.4  28.1 -13.0

Inventories      -1.7  14.8  62.6  21.3  -6.5  -8.8  17.9  47.2  27.0  -9.1

Prices Paid      36.3  46.9  41.2  11.6  35.3  25.8  39.4  35.9  21.0  18.5

Prices Received  30.8  37.7  59.2  3.1   34.6  23.4  39.0  37.0  23.3  15.7

Number of Emp.   28.5  18.7  68.9  11.6  7.1   12.2  27.4  52.9  16.3  11.1

Avg. Emp. Wrkwk. 10.4  15.9  69.5  14.5  1.4   -3.0  7.2   69.7  19.4 -12.1

Capital Ex.       --    --    --    --    --   4.4   19.5  67.4  13.1  6.4


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 November 14, 2022.

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

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