Research >> Economics
Richmond Fed's Current Activity Index moved down from 20 to 14
According to the latest survey by the Federal Reserve Bank of Richmond, Fifth District manufacturing firms saw slower growth in January, even as each of the expansion metrics remained positive. The composite index moved down from 20 to 14. This decrease resulted from a decline in the metrics for both shipments and employment. The third component, new orders, held steady. However, manufacturing firms saw an increase in backlogs in January, after a decrease in December, as the index rose from −4 to 5. Firms reported that they expect growth to strengthen in the coming months.
District manufacturing firms saw continued price increases in January. However, prices received grew at a slower rate than they had in December, while increases in prices paid was unchanged. Firms expect prices to rise at a faster rate in the next six months, although expectations of price growth were below their December values.
Posted: January 23, 2018 Tuesday 10:00 AM