US Data: Richmond Fed Survey - Summary

Release for: July 2018

Source: Federal Reserve Bank of Richmond

Diffusion indexes, seasonally adjusted

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                                          Jul-18  Jun-18  May-18

MANUFACTURING SECTOR INDICATORS:

Now vs. a month ago:

Manufacturing Index                           20      21      17

Shipments                                     16      17      17

Volume of new orders                          22      22      16

Backlog of orders                              4      20      10

Capacity utilization                           8      20      19

Vendor lead time                              17      18      19

Local business conditions                     18      13      14

Capital expenditures                          25      26      23

Finished Goods Inventories                    10       2       7

Raw Materials Inventories                     20      19      20

Equipment and Software                        18      17      24

Services Expenditures                          6       1      11

Number of employees                           22      23      18

Wages                                         22      27      27

Available Skills                             -16     -13      -4

Average workweek                              10      11      11

Price trends:

Current

Prices paid                                 3.54    3.14    2.77

Prices received                             2.24    1.72    1.76

Six months from now

Prices Paid                                 2.84    2.00    2.40

Prices received                             2.74    1.46    1.92

SERVICE SECTOR INDICATORS:

Now vs. one month ago:

Revenues (or budget)                          23      19      16

Price trends:

Current

Prices paid                                 2.75    2.55    2.18

Prices received                             2.29    2.09    1.33

Six months from now

Prices Paid                                 2.98    2.80    2.44

Prices received                             2.55    2.37    1.60

     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; +1 202-372-2121; email: shikha.dave@marketnews.com

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