The services side of the Philly Fed business survey for May 2016
New orders 23.1 vs 13.9 prior
Full time employment 10.6 vs 7.5
Wages and benefits cost index 26.6 vs 40.3 prior
Prices paid 22.4 vs 10.9
Sales 23.6 vs 9.6 prior
6m expectations 25.5 vs 35.2 prior
A mixed bag really. Wage costs are lower on the month but there's been a pick up in new biz and sales. However, firms expectations going forward are lower.
It's not seen as a big indicator, which is why it's not on many calendars. It all goes in the mix though.
