US Data: Richmond Fed Survey - Summary

Release for: August 2018

Source: Federal Reserve Bank of Richmond

Diffusion indexes, seasonally adjusted

                                          Aug-18  Jul-18  Jun-18

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MANUFACTURING SECTOR INDICATORS:

Now vs. a month ago:

Manufacturing Index                           24      20      21

Shipments                                     23      16      17

Volume of new orders                          25      22      22

Backlog of orders                             15       4      20

Capacity utilization                          18       8      20

Vendor lead time                              35      17      18

Local business conditions                     13      18      13

Capital expenditures                          21      25      26

Finished Goods Inventories                     4      10       2

Raw Materials Inventories                     15      20      19

Equipment and Software                        19      18      17

Services Expenditures                         12       6       1

Number of employees                           25      22      23

Wages                                         27      22      27

Available Skills                             -17     -16     -13

Average workweek                              16      10      11

Price trends:

Current

Prices paid                                 3.31    3.54    3.14

Prices received                             1.58    2.24    1.72

Six months from now

Prices Paid                                 3.24    2.84    2.00

Prices received                             2.63    2.74    1.46

SERVICE SECTOR INDICATORS:

Now vs. one month ago:

Revenues (or budget)                          31      23      19

Price trends:

Current

Prices paid                                 2.03    2.75    2.55

Prices received                             1.68    2.29    2.09

Six months from now

Prices Paid                                 2.55    2.98    2.80

Prices received                             2.19    2.55    2.37

The manufacturing index is a gauge 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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