08:41 AM EDT, 03/25/2025 (MT Newswires) -- The Philadelphia Federal Reserve Bank's monthly nonmanufacturing activity index fell to minus 32.5 in March from minus 13.1 in the previous month, indicating a faster pace of contraction in the sector.

The readings for new orders and employment declined while the prices and sales indexes increased in the month, though the sales index remained in negative territory.

The six-month outlooks at both the regional and firm levels decreased, with 26.8% of respondents expecting expansion in the region over the next six months compared with 50.9% that expect contraction.