US Data: Richmond Fed Survey - Summary

Release for: September 2018

Source: Federal Reserve Bank of Richmond

Diffusion indexes, seasonally adjusted

                                          Sep-18  Aug-18  Jul-18

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MANUFACTURING SECTOR INDICATORS:

Now vs. a month ago:

Manufacturing Index                           29      24      20

Shipments                                     33      23      16

Volume of new orders                          34      25      22

Backlog of orders                             20      15       4

Capacity utilization                          20      18       8

Vendor lead time                              32      35      17

Local business conditions                     27      13      18

Capital expenditures                          29      21      25

Finished Goods Inventories                     6       4      10

Raw Materials Inventories                     14      15      20

Equipment and Software                        20      19      18

Services Expenditures                          5      12       6

Number of employees                           16      25      22

Wages                                         33      27      22

Available Skills                             -11     -17     -16

Average workweek                              19      16      10

Price trends:

Current

Prices paid                                 3.47    3.31    3.54

Prices received                             1.93    1.58    2.24

Six months from now

Prices Paid                                 3.04    3.24    2.84

Prices received                             2.37    2.63    2.74

SERVICE SECTOR INDICATORS:

Now vs. one month ago:

Revenues (or budget)                          18      31      23

Price trends:

Current

Prices paid                                 2.69    2.03    2.75

Prices received                             2.42    1.68    2.29

Six months from now

Prices Paid                                 2.89    2.55    2.98

Prices received                             2.55    2.19    2.55

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; +1 202-371-2121; email: shikha.dave@marketnews.com

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