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United States Richmond Fed Manufacturing Index
Last Release
Apr 30, 2024
Actual
-7
Units In
Points
Previous
-11
Frequency
Monthly
Next Release
May 29, 2024
Time to Release
1 Months 3 Days 23 Hours
Highest | Lowest | Average | Date Range | Source |
28 Mar 2004 | -45 Apr 2020 | 2.59 Points | 1993-2024 | 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 composite manufacturing index in the US Fifth District area increased to -7 in April from -11 in March, as expected. Shipments (-10 vs -14 in March) and new orders (-9 vs -17) increased while employment fell (-2 vs 0). Firms continued to report declining backlogs and vendor lead times in April, as those indexes increased but remained negative. The capacity utilization index rose to -5 from -21. Also, firms were more optimistic about local business conditions (6 vs-1). The average growth rate of prices paid
decreased in April, while the average growth rate of prices received edged up slightly. Looking ahead, future local business conditions rose (16 vs 12), as the future indexes for shipments and new orders rose notably, suggesting that firms expect improvements in these areas over the next six months.
United States Richmond Fed Manufacturing Index History
Last 12 readings