According to a monthly study from the Federal Reserve Bank of Philadelphia, the pace of growth for regional non-manufacturing activity rose in December.
The study states that the index for current firm-level activity rose notably while the indexes for new orders, sales and employment also increased, but by lesser amounts.
Survey respondents continued to report moderate price increases. The respondents were decidedly more optimistic for the first half of 2017 in this survey than they were in the previous survey; the indexes for future general activity at the firm level and in the region both rose sharply.
The employment indicators showed improvement this month with 25 percent of firms reporting an increase in full-time employment. Most of the respondents, however, reported no change in employment. The diffusion index for full-time employment rose 5 points, to 19.7, and the diffusion index for part-time employment rose 8 points, to 17.
The survey also noted that most firms have increased capital spending.
For the complete list, visit the Federal Reserve Bank of Philadelphia.