Philadelphia Fed nonmanufacturing index for August
- Prior 1.4%
- Firm level activity -0.5 versus 2.0 prior
- New orders -16.0 versus -13.3 prior
- Employment 8.1 versus 11.9 prior
- Wage and benefit 33.7 vs 39.8 prior
- Futures index 6 months forward 8.2 versus 20.5 prior. 51% of firms expecting increases in future activity down from 56% last month and 24% expect decreases up from 15% last month
The data – although not a market mover – show continued weakness in the region.