HOUSTON, Aug. 21 (Xinhua) -- Business activities in the non-manufacturing sector in some eastern U.S. states continued to grow in August, according to report by the Federal Reserve Bank of Philadelphia on Tuesday.
The August Nonmanufacturing Business Outlook Survey, conducted by the Federal Reserve Bank of Philadelphia, found that the respondents remained optimistic about growth over the next six months.
The diffusion index for current general activity at the firm level increased 6 points to 41.1, its highest reading since June 2015.
The new orders index fell for the third consecutive month to 29.0, but remained above its historical average.
The sales/revenues index increased for the second consecutive month, rising from 35.6 in July to 40.5 in August.
The full-time employment index edged up from 29.5 in July to 32.2 in August, marking an increase for the third consecutive month.
The prices paid index fell 1 point to 27.4. The prices received index rose from 12.4 in July to 26.9 in August.
The diffusion index for future activity at the firm level increased 9 points to 50.7. The future regional activity index rebounded from its decline last month, rising 15 points to 46.2.
The Non-manufacturing Business Outlook Survey is a monthly survey of non-manufacturers in the Third Federal Reserve District covering eastern Pennsylvania, southern New Jersey, and Delaware.
The Federal Reserve Bank of Philadelphia is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington D.C., make up the Federal Reserve System.
