Philly Fed: Regional non-manufacturing activity index fell 4 points to 37.4 in September

"Responses to the September Nonmanufacturing Business Outlook Survey suggest that nonmanufacturing activity continued to expand in the region," the Federal Reserve Bank of Philadelphia reported on Tuesday.

Key quotes

• The regional activity index fell 4 points to 37.4.
• The diffusion index for current general activity at the firm level rose from 41.1 in August to 46.8 in September.
• The new orders index fell 2 points to 26.7. The share of firms reporting increases in new orders exceeded the share reporting decreases.
• The sales/revenues index rose from 40.5 in August to 42.8 in September, its highest reading since February 2015.
• The survey’s labor market indicators remained strong in September. The full-time employment index increased from 32.2 in August to 36.7 in September.