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. source: Federal Reserve Bank of Richmond

Richmond Fed Manufacturing Index in the United States averaged 2.99 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 February of 2023.

Richmond Fed Manufacturing Index in the United States is expected to be 3.00 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
2022-12-28 03:00 PM Dec 1 -9 -4
2023-01-24 03:00 PM Jan -11 1 -5 3
2023-02-28 03:00 PM Feb -11


Related Last Previous Unit Reference
Richmond Fed Manufacturing Index -11.00 1.00 points Jan 2023
Richmond Fed Services Index -6.00 -12.00 points Jan 2023
Richmond Fed Manufacturing Shipments -3.00 5.00 points Jan 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
-11.00 1.00 28.00 -55.00 1993 - 2023 points Monthly
SA

News Stream
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
US 5th District Factory Activity Returns to Growth
The Manufacturing Activity Index in The Richmond area edged higher to 1 in December 2022 from -9 in the previous month, pointing to the first expansion in the factory activity since April. Each of the three index components improved with shipments (5 vs. -8 in November) and employment (3 vs. -1) crossing into positive territory and new orders declining less (-4 vs. -14). At the same time, both prices paid (9.08 vs. 10.19) and prices received (7.63 vs. 9.91) decreased. Still, many firms remained pessimistic about local business conditions over the next six months, as the expectations index fell to -20 in December.
2022-12-28
US 5th District Factory Index Remains Subdued
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.
2022-11-22