United States Richmond Fed Manufacturing Index

Last Release

Nov 30, 2025

Actual

-15

Units In

Points

-4

Frequency

Monthly

Next Release

Dec 23, 2025

Time to Release

26 Days 17 Hours

Highest	Lowest	Average	Date Range	Source
28 Mar 2004	-45 Apr 2020	1.94 Points	1993-2025	Federal Reserve Bank of Richmond

The Richmond Manufacturing Index measures the conditions of the manufacturing sector for the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia. The index is derived from a survey of 190 manufacturing plants and based on three individual index with the following weights: Shipments (33 percent), New Orders (40 percent) and Employment (27 percent). The index can range between +100 and -100; a reading above zero indicates expansion, while below zero suggests a contraction.

Latest Updates

The Fifth District’s composite manufacturing index fell sharply to -15 in November from -4 in October, well below expectations of -2, signaling a deeper slowdown in activity. Shipments tumbled to -14 from 4, and new orders slid to -22 from -6, though employment improved slightly to -7 from -10. Local business conditions deteriorated, with the index dropping to -20 from -1. Still, firms were more optimistic about the months ahead: expectations for local conditions rose to 1 from -5, while future shipments and new orders climbed to 25 and 26, respectively. The outlook for employment softened slightly to -1 from 2. Price pressures picked up as growth in prices paid rebounded in November, while prices received held steady. Over the next year, companies expect price increases to moderate on the cost side and edge higher for the prices they charge.