The Manufacturing Activity Index in the Richmond area rose to -5 in March 2023 from -16 in the previous month, pointing to a modest improvement in business conditions. Of its three component indexes, shipments saw the largest change (up to 2 in March from -15 in February) and both the employment (-5 vs -7) and new orders (-11 vs -24) indexes improved but remained in negative territory. Firms continued to report easing of supply chain constraints as the indexes for backlogs and lead times remained negative. The average growth rate of prices paid decreased moderately, while the average growth rate of prices received changed little in March. Firms remained pessimistic about local business conditions and the index for future local business conditions edged down slightly. source: Federal Reserve Bank of Richmond

Richmond Fed Manufacturing Index in the United States averaged 2.92 points from 1993 until 2023, 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 March of 2023.

Richmond Fed Manufacturing Index in the United States is expected to be -9.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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United States Richmond Fed Manufacturing Index



Calendar GMT Actual Previous Consensus TEForecast
2023-02-28 03:00 PM Feb -16 -11 -5
2023-03-28 02:00 PM Mar -5 -16 -9
2023-04-25 02:00 PM Apr -5


Related Last Previous Unit Reference
Richmond Fed Manufacturing Index -5.00 -16.00 points Mar 2023
Richmond Fed Services Index -17.00 -3.00 points Mar 2023
Richmond Fed Manufacturing Shipments 2.00 -15.00 points Mar 2023

United States Richmond Fed Manufacturing Index
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.
Actual Previous Highest Lowest Dates Unit Frequency
-5.00 -16.00 28.00 -55.00 1993 - 2023 points Monthly
SA

News Stream
Manufacturing Activity in 5th District Contracts Less
The Manufacturing Activity Index in the Richmond area rose to -5 in March 2023 from -16 in the previous month, pointing to a modest improvement in business conditions. Of its three component indexes, shipments saw the largest change (up to 2 in March from -15 in February) and both the employment (-5 vs -7) and new orders (-11 vs -24) indexes improved but remained in negative territory. Firms continued to report easing of supply chain constraints as the indexes for backlogs and lead times remained negative. The average growth rate of prices paid decreased moderately, while the average growth rate of prices received changed little in March. Firms remained pessimistic about local business conditions and the index for future local business conditions edged down slightly.
2023-03-28
US 5th District Factory Activity Contracts Further
The Manufacturing Activity Index in the Richmond area decreased to -16 in February of 2023 from -11 in the previous month, the lowest since May of 2020. Of its three component indexes, shipments (-15 vs -3 in January) and employment(-7 vs -3) declined while the new orders index remained unchanged at -24. Firms remained pessimistic about local business conditions, as the index remained at -13. However, the expectations index for future local business conditions increased notably and returned to positive territory for the first time since March 2022. Businesses continued to see declines in backlogs and lead times as both indexes remained negative. However, the capacity utilization index fell notably from -7 in January to -17 in February. The average growth rate of prices paid remained nearly unchanged, while the average growth rate of prices received decreased in February. Firms expect both to moderate over the next 12 months.
2023-02-28
US 5th District Factory Index Contracts the Most since May 2020
The Manufacturing Activity Index in the Richmond area decreased to -11 in January of 2023 from 1 in December, the lowest since May 2020 and below market expectations of -5. Each of its three component indexes: shipments (-3 vs 5 in December), new orders (-24 vs -4), and employment (-3 vs 3) declined. The index for order backlogs retreated further into negative territory, indicating that, businesses continued to see declining backlogs. Meanwhile, the index for vendor lead time also remained well below 0, suggesting a continued decline in lead times. The average growth rates of both prices paid and prices received decreased in January. Expectations for both price growth measures over the next 12 months also decreased to a level much lower than last year. Although the local business conditions expectations index rose slightly from December, firms generally reported pessimism about conditions over the next six months.
2023-01-24