The Manufacturing Activity Index in the US fifth district edged higher to -9 in November of 2022 from -10 in October which was the lowest reading since May of 2020, but continued to point to softening conditions for manufacturing firms. Shipments (-8 vs -3) and employment (-1 vs 0) deteriorated slightly while new orders showed some improvement (-14 vs -22). Also, the wage index decreased notably (25 vs 34) and the local business conditions index rose to -6 from -16, with considerably fewer firms pessimistic about conditions over the next six months. Despite dramatic improvements throughout this year, supply chain issues appeared to persist for some firms, as the indexes for vendor lead time (-10 vs -15) and backlog of orders (-25 vs -28) increased slightly. Finally, prices paid (10.19 vs 12.81) decreased while prices received (9.91 vs 8.62) increased. source: Federal Reserve Bank of Richmond
Richmond Fed Manufacturing Index in the United States averaged 3.04 points from 1993 until 2022, reaching an all time high of 28.00 points in March of 2004 and a record low of -55.00 points in April of 2020. This page provides - United States Richmond Fed Manufacturing Index - actual values, historical data, forecast, chart, statistics, economic calendar and news. United States Richmond Fed Manufacturing Index - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.
Richmond Fed Manufacturing Index in the United States is expected to be -4.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the United States Richmond Fed Manufacturing Index is projected to trend around 5.00 points in 2023 and 3.00 points in 2024, according to our econometric models.