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Philly Fed finds positive growth in nonmanufacturing business activity

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Current and future general activity indexes for firms.
Current and future general activity indexes for firms. - ()

Nonmanufacturing business activity in the region that includes South Jersey continued to grow in September, according to Federal Reserve Bank of Philadelphia.

The Fed found in its monthly Nonmanufacturing Business Outlook Survey that current general activity at the firm level fell slightly but remained positive, compared to August when it hit its highest reading in four months.

The survey indicated prices paid and prices received indexes showed little improvement, hitting below their historical averages of 20 and 11.7, respectively.

The index for future activity increased, with those surveyed reporting optimism about future activity over the next six months.

The Fed reported the index for new orders and sales/revenue was also in the positive.

Finally, the index for full-time employment increased, but is still below its historical average.

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Emily Bader

Emily Bader

Emily Bader is the Web Editor and Social Media Coordinator at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com.

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