Richmond Fed Manufacturing Index
Range: From 20 To 31
The Manufacturing Activity Index in the US fifth district including the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia jumped to 30 in November of 2017 from 12 in October, beating market expectations of 14. It is the highest reading on record, boosted by a jump in shipments (33 from 9); new orders (35 from 17); capacity utilization (19 from 7); number of employees (18 from 10) and average workweek (17 from 8). On the other hand, wages slowed (21 from 24). In addition, manufacturing firms remained optimistic that growth will continue in the coming six months. Richmond Fed Manufacturing Index in the United States averaged 2.13 Index Points from 1993 until 2017, reaching an all time high of 30 Index Points in November of 2017 and a record low of -44 Index Points in February of 2009.
Market Sensitivity: Low
What Is It: Measures manufacturing performance in a region encompassing the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia.
Most Current News Release on the Internet: www.richmondfed.org/research/regional_economy/surveys_of_business_conditions/
Home Web Address: www.rich.frb.org
Release Time: 10:00 a.m. (ET); the report is released on the fourth Tuesday of every month and reports on activity during that month.
Source: Federal Reserve Bank of Richmond.
Revisions: No monthly revisions. The survey is subject to annual revisions in the fall that stem from changes in seasonal adjustment factors.”
Bernard Baumohl. The Secrets of Economic Indicators
A small but growing cadre of traders track the Richmond Fed survey for its ability to sniff out price pressures in the economy.
Investors pay little attention to this survey.
Currency traders do not follow this report.