Wages and benefits cost index 41.9 versus 48.1
- Philadelphia Fed nonmanufacturing business activity index for October came in at 37.6 versus 37.4 prior
- wages and benefits cost index fell to 41.9 from 48.1 in September
- new orders index 7.8 in October versus 26.7 in September
- full-time employment index 16.6 in October versus 36.7 in September
- prices paid 15.0 versus 26.3 in September
- prices received 18.6 versus 24.3 in September
- average workweek 25.5 versus 25.1 September
- nonmanufacturing firm–level business activity index 37.2 in October versus 46.8 in September
The index takes the % increases minus the % decreases for each category (they throw out the unchanges MoM).
For example, for the general activity index, the percentage reporting increases stood at 44.1, while the decreases were at 6.5. The difference equals the months index for the month (44.1 - 6.5 = 37.6).
A number greater than 0 is indicative of a positive/expansionary index. The higher the number the greater the overall strength in that index component.
Still a strong number.
