The Manufacturing Activity Index in the US fifth district including the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia fell to 10 in March of 2019 from 16 in the previous month and slightly below market expectations of 12. Slowdowns were seen in shipments (2 from 12) and new orders (9 from 19) while faster increases were seen in inventories of finished goods (17 from 14), number of employees (23 from 15) and wages (33 from 29). Also, price pressures eased for prices paid (2.84 from 3.03) and prices received increased slightly more (2.07 from 2.06). Firms were optimistic, expecting conditions to improve in the coming months. Richmond Fed Manufacturing Index in the United States averaged 2.79 Index Points from 1993 until 2019, reaching an all time high of 29 Index Points in September of 2018 and a record low of -44 Index Points in February of 2009.
Richmond Fed Manufacturing Index in the United States is expected to be 10.00 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Richmond Fed Manufacturing Index in the United States to stand at 2.00 in 12 months time. In the long-term, the United States Richmond Fed Manufacturing Index is projected to trend around 3.00 Index Points in 2020, according to our econometric models.