United States Richmond Fed Manufacturing Index

Last Release

May 31, 2025

Actual

-9

Units In

Points

-13

Frequency

Monthly

Next Release

Jun 24, 2025

Time to Release

25 Days 16 Hours

Highest	Lowest	Average	Date Range	Source
28 Mar 2004	-45 Apr 2020	2.16 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 composite manufacturing index in the US Fifth District improved slightly to -9 in May of 2025 from -13 in the previous month, in line with market expectations. The result was aligned with other leading indicators on the US economy after the US went back on its aggressive batch of tariffs against major trading partners, which sent the index to a five-month low last month. Shipments fel at a slower pace (-10 vs -17 in April) and the outlook on shipment levels swung to the positive territory (2 vs .20). In the meantime, new orders remained lower (-14 vs .15) but the outlook nearly stabilized (-3 vs .26).