The Federal Reserve Bank of Philadelphia’s NBOS is a monthly qualitative survey that asks high-level executives about the direction of change in activity at their nonmanufacturing firms located in the Third District (Delaware, southern New Jersey, and eastern and central Pennsylvania). The NBOS launched in 2011 and complements the Manufacturing Business Outlook Survey.
We ask nonmanufacturers to indicate the direction of change (increase, no change, decrease) from the prior month for general business activity at their firms and in the region as well as for these specific indicators: new orders, sales or revenues, unfilled orders, inventories, prices paid, prices received, full-time employment, part-time employment, average employee workweek, wage and benefits costs, and capital expenditures on both physical plant and equipment and software. We also ask firms to indicate their expected direction of change over the upcoming six-month period for general business activity at their firms and in the region.
See the Methodology, User Guide, and FAQs for more information.
