US Data: Richmond Fed Survey - Summary

Release for: February 2018

Source: Federal Reserve Bank of Richmond

Diffusion indexes, seasonally adjusted

                                                Feb-18  Jan-18  Dec-17

----------------------------------------------------------------------

MANUFACTURING SECTOR INDICATORS:

Now vs. a month ago:

Manufacturing Index                                 28      14      20

Shipments                                           31      15      24

Volume of new orders                                27      16      16

Backlog of orders                                   18       5      -4

Capacity utilization                                32      13      16

Vendor lead time                                    18      18       6

Number of employees                                 25      10      20

Average workweek                                    28       2       8

Wages                                               23      24      22

Inventory levels:

Finished gds invent/desired                         17      17      17

Raw materials invent/desired                        23      14      24

Price trends:*

Current

Prices paid                                       1.89    1.79    1.79

Prices received                                   1.57    1.18    1.27

Six months from now

Prices Paid                                       2.69    2.33    2.10

Prices received                                   1.74    1.58    2.02

SERVICE SECTOR INDICATORS:

Now vs. one month ago:

Revenues (or budget)                                27      20      25

Price trends:*

Pct chg vs. prev month, annualized

Service sector                                    1.72    1.55    1.43

Pct chg expected next six months, annualized

Service sector                                    2.23    1.92    1.71

The manufacturing index is a guage of broad activity in the District's  

 manufacturing sector. It is a composite index representing a weighted  

 average of the shipments (33%), new orders (40%) and employment (27%)  

 indexes.                                                               

Each index equals the percentage reporting increase minus the           

 percentage reporting decrease.                                         

All firms surveyed are located within the Fifth Federal Reserve         

 District, which includes the District of Columbia, Maryland, North     

 Carolina, South Carolina, Virginia, and most of West Virginia.         

*Price trends reflect respondents' beliefs/expectations for             

 price changes on an annualized basis                                   

--MNI Washington Bureau; +1 202-371-2121; email: holly.stokes@marketnews.com

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