US Data: Richmond Fed Survey - Summary

Release for: February 2019

Source: Federal Reserve Bank of Richmond

Diffusion indexes, seasonally adjusted

                                  Feb-19  Jan-19  Dec-18  Nov-18  Oct-18  Sep-18

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

MANUFACTURING SECTOR

INDICATORS:

Now vs. a month ago:

Manufacturing Index                   16      -2      -8      14      15      29

Shipments                             12      -8     -25      12       7      33

Volume of new orders                  19     -11      -9      17      20      34

Backlog of orders                     -7     -21     -18      15      13      20

Capacity utilization                   8       3     -16       9      20      20

Vendor lead time                       4       4      14      35      23      32

Local business conditions              4     -11     -25       5       8      27

Capital expenditures                   8       9      17      17      21      29

Finished Goods Inventories            14       3      13       2       1       6

Raw Materials Inventories             22      23      15       5      14      14

Equipment and Software                12       8      13      19      16      20

Services Expenditures                 -4       6       2       9      -1       5

Number of employees                   15      19      14      11      19      16

Wages                                 29      31      31      34      28      33

Available Skills                     -13     -12     -28     -26     -22     -11

Average workweek                      17       3       3      11      16      19

Price trends:

Current

Prices paid                         3.03    3.32    4.36    4.70    5.68    3.47

Prices received                     2.06    2.26    2.26    2.13    2.84    1.93

Six months from now

Prices Paid                         2.17    2.48    2.90    3.92    3.87    3.04

Prices received                     1.81    2.00    2.31    2.60    2.66    2.37

SERVICE SECTOR INDICATORS:

Now vs. one month ago:

Revenues (or budget)                  17       6      10       5      -1      18

Price trends:

Current

Prices paid                         2.97    2.83    3.03    3.38    4.07    2.69

Prices received                     2.50    1.82    2.51    2.68    2.64    2.42

Six months from now

Prices Paid                         2.70    2.49    2.88    2.81    3.73    2.89

Prices received                     2.27    2.10    2.01    2.31    2.99    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 (973) 494-2611; email: harrison.clarke@marketnews.com

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