The Richmond Fed composite manufacturing index fell to -11 in June of 2022 from -9 in May, the lowest since May 2020 as two of its three component indexes dropped further into negative territory. The indexes for shipments (-15 vs -14 in May) and volume of new orders (-26 vs -16) declined while the employment index rose (16 vs 8). The wage index also remained elevated, despite a minor downward shift, indicating that a large share of firms continues to report increasing wages. Additionally, the local business conditions index continued to slide in June, falling to -28. Firms are also less optimistic about conditions in the next six months as the expectations index decreased (-26 vs -13). The Richmond Fed composite manufacturing index was initially reported at -19 due to incorrect data because of an error related to the discontinuation of the average workweek index. source: Federal Reserve Bank of Richmond

Richmond Fed Manufacturing Index in the United States averaged 3.18 points from 1993 until 2022, reaching an all time high of 28 points in March of 2004 and a record low of -45 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 July of 2022.

Richmond Fed Manufacturing Index in the United States is expected to be -19.00 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.

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United States Richmond Fed Manufacturing Index



Calendar GMT Actual Previous Consensus TEForecast
2022-05-24 02:00 PM May -9 14 12
2022-06-28 02:00 PM Jun -11 -9 -12
2022-07-26 02:00 PM Jul -19


Related Last Previous Unit Reference
Richmond Fed Manufacturing Index -11.00 -9.00 points Jun 2022
Richmond Fed Services Index 0.00 8.00 points Jun 2022
Richmond Fed Manufacturing Shipments -15.00 -14.00 points Jun 2022

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
-11.00 -9.00 28.00 -45.00 1993 - 2022 points Monthly
SA

News Stream
Manufacturing Activity in 5th District Contracts for 2nd Month
The Richmond Fed composite manufacturing index fell to -11 in June of 2022 from -9 in May, the lowest since May 2020 as two of its three component indexes dropped further into negative territory. The indexes for shipments (-15 vs -14 in May) and volume of new orders (-26 vs -16) declined while the employment index rose (16 vs 8). The wage index also remained elevated, despite a minor downward shift, indicating that a large share of firms continues to report increasing wages. Additionally, the local business conditions index continued to slide in June, falling to -28. Firms are also less optimistic about conditions in the next six months as the expectations index decreased (-26 vs -13). The Richmond Fed composite manufacturing index was initially reported at -19 due to incorrect data because of an error related to the discontinuation of the average workweek index.
2022-06-28
US 5th District Factory Index at 2-Year Low
The Richmond Fed composite manufacturing index was at -9 in May of 2022 from 14 in the previous month. It was the first negative reading since September of 2021, and the lowest since May of 2020. The shipments subindex swung to -14 from 17, while the volume of new orders was at -16 compared to 6 in the prior month. The index for finished goods and raw materials deteriorated to a lesser extent, and firms expect that to persist in the foreseeable future. Manufacturers reported lower number of employees, even though wage levels were steady from the previous month. Also, firms noted a significant increase in prices paid, while prices received rose to a lower extent. Survey participants expect business conditions to deteriorate in the next six month, the fourth time in survey history that the expectations index was negative.
2022-05-24
US 5th District Factory Index at 4-Month High
The Richmond Fed composite manufacturing index increased to 14 in April of 2022 from 13 in March, the highest in four months. Shipments increased to 17 from 9, while the volume of new orders moved down slightly to 6 from 10. Order backlogs continued to increase in April, while vendor lead times remained high. The index for finished goods and raw materials inventories remained low, and firms expected that to persist for the foreseeable future. Manufacturers continued to report growth in employment while experiencing challenges finding workers with the necessary skills. The average growth rate of prices paid increased slightly in April while the growth rate of prices received from customers edged down slightly. Survey participants expect business conditions to deteriorate in the next six months, the third time in the history of the survey that this expectations index has been negative.
2022-04-26