Philly Fed: Non-manufacturing activity index improves to 42.4 in November

"Responses to the November Nonmanufacturing Business Outlook Survey suggest that nonmanufacturing activity in the region continued to expand," the Federal Reserve Bank of Philadelphia announced on Tuesday and added: "The diffusion index for current general activity at the firm level increased 5 points in November to 42.4."

Key takeaways from the press release

• Nearly 55 percent of the firms reported increases in activity, compared with 13 percent that reported decreases. 
• The new orders index rebounded from its sharp decrease last month, rising 20 points to 28.2. 
• The full-time employment index fell from 16.6 in October to 10.3 in November.
• The prices paid index rose 22 points to 37.5, an all-time high for the series. Nearly 38 percent of the respondents reported increases in input prices, while no firms reported decreases.
• The diffusion index for future activity at the firm level increased 10 points to 53.6.