Nonmanufacturing activity expands in South Jersey region, Philadelphia Fed says

NJBIZ STAFF//January 24, 2017

The Federal Reserve Bank of Philadelphia released its nonmanufacturing business outlook survey for January 2017 on Tuesday. The survey includes input from businesses in southern New Jersey.The Federal Reserve Bank of Philadelphia released its nonmanufacturing business outlook survey for January 2017 on Tuesday. The survey includes input from businesses in southern New Jersey.

According to the survey, business activity in the region expanded at a faster pace in January compared with December.

“The index for general activity at the firm level increased, along with almost all of the survey’s other indicators,” the report said.

While broad improvements were seen in new orders and sales/revenues, the employment indicators were mixed, although full-time employment rose.

Also, more firms reported increases in prices this month compared with last month.

All things considered, the study’s indicators reflecting expectations of future activity during the next six months showed a high degree of optimism for growth at firms and in the region.