Details of the Philly Fed non-manufacturing regional business activity index 21 April 2015

  • New orders 35.9 vs 30.2 prior
  • Employment 23.1 vs 20.9 prior
  • Wages 28.2 vs 32.6 prior
  • Firm level business activity 43.6 vs 44.2 prior

Not as hotly watched as the manufacturing number but we can pick the bones of it for further economic clues. Wages drop while new orders pick up. Still, it's running in the same vein of soft numbers from the US