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 June 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.