Federal Reserve Bank of Richmond: Manufacturing Activity in the Fifth District

 

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Richmond Fed Manufacturing Index

Level: 20

Previous: 30

Consensus: 23

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.

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