PHILADELPHIA – Business activity, sales and employment all showed increases in the second quarter South Jersey business survey conducted by the Federal Reserve Bank of Philadelphia.
The survey, based on responses from members of the Chamber of Commerce of Southern New Jersey, showed a jump in the index of busines activity from 2.8 in the weather-depressed first quarter to 12.1 in the second quarter. More than a third of the firms responding said activity grew in the quarter; 21% said activity was weaker.
More than a third of the firms surveyed reported higher sales in the second quarter. The quarter's sales index of 9.1 brings the index to a level slightly above where it stood in the fourth quarter of 2013.
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