Business Outlook Survey Table of Results, November 2004

November 2004

                     Nov. vs Oct.             |        Six Months from now vs Nov.
                                              |
                                              |
               Prev.                          |  Prev.
               Diff.  Inc. No ch. Dec. Diff.  |  Diff.  Inc. No ch. Dec. Diff.
               Index                   Index  |  Index                   Index
                                              |
General Busines  28.5  35.4  48.4  14.7  20.7 |    27.6  59.7  27.9   7.7  52.1
Conditions                                    |
                                              |
New Orders       24.6  41.4  39.4  19.2  22.1 |    40.1  64.2  21.5   7.6  56.6
                                              |
Shipments        28.2  38.9  45.1  14.4  24.5 |    34.7  61.2  23.1   9.3  51.8
                                              |
Unfilled Orders  -5.4  16.5  59.8  17.7  -1.2 |     8.1  31.1  55.6   8.1  22.9
                                              |
Delivery Times   -0.2  12.7  68.7  17.4  -4.7 |    -0.2  19.7  61.5  14.8   4.9
                                              |
Inventories       3.1  16.4  60.5  22.4  -6.1 |    -9.5  25.9  53.9  16.7   9.2
                                              |
Prices Paid      57.1  56.1  40.9   2.1  53.9 |    50.2  58.4  32.3   7.3  51.1
                                              |
Prices Received  32.7  35.8  56.4   7.8  28.0 |    38.6  51.8  42.8   5.5  46.3
                                              |
Number of Emp.   14.1  19.7  78.1   2.3  17.4 |    23.2  33.7  57.9   4.5  29.2
                                              |
Avg. Emp. Wrkwk   6.5  18.1  61.4  17.6   0.6 |    16.3  25.1  59.7   8.5  16.6
                                              |
Capital Ex.       --    --    --    --    --  |    21.1  34.3  35.2   8.8  25.5


Notes: (1) Items may not add to 100 percent because of omission by respondents.
       (2) All data are seasonally adjusted.
       (3) Diffusion indexes represent the percentage of respondents indicating
           an increase minus the percentage indicating a decrease.
       (4) Survey results reflect data received through November 15, 2004.