Federal Reserve Bank of Richmond

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We’re one of 12 regional Federal Reserve Banks working together with the Board of Governors to support a healthy economy. Our job is to serve the American public — to serve you. And our mission is to foster economic stability and strength.

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Economic Brief

May 2018, No. 18-05

Bill Dupor, Marios Karabarbounis, Marianna Kudlyak, M. Saif Mehkari and David A. Price

Data & Analysis

Fifth District Surveys of Manufacturing and Service Sector Activity

May 22, 2018

Manufacturers and service sector firms in the Fifth District reported robust growth in May, according to the results of the Richmond Fed’s latest surveys.

Month,Manufacturing Composite,Service Sector Revenues
2008-05-01,-9,-6.666666508
2008-06-01,-10.33333302,-8.333333015
2008-07-01,-10.66666698,-12.33333302
2008-08-01,-12.33333302,-12
2008-09-01,-16.33333397,-11.33333302
2008-10-01,-22.33333397,-9.333333015
2008-11-01,-30,-13
2008-12-01,-33.33333206,-20.33333397
2009-01-01,-35,-24
2009-02-01,-37,-24.66666603
2009-03-01,-36,-23
2009-04-01,-34.33333206,-26.66666603
2009-05-01,-24.33333397,-29.33333397
2009-06-01,-17.66666603,-29.33333397
2009-07-01,-9,-25.33333397
2009-08-01,-.6666666865,-16
2009-09-01,2.333333254,-9.333333015
2009-10-01,6,-10
2009-11-01,4.333333492,-10.66666698
2009-12-01,6.666666508,-12
2010-01-01,7.666666508,-7.333333492
2010-02-01,9,-10
2010-03-01,9,-7.333333492
2010-04-01,14,-3.666666746
2010-05-01,15,2.666666746
2010-06-01,15.66666698,4.333333492
2010-07-01,10.33333302,3.333333254
2010-08-01,7.333333492,.3333333433
2010-09-01,4.666666508,-2
2010-10-01,5.666666508,-2.333333254
2010-11-01,8.666666985,.3333333433
2010-12-01,16,7
2011-01-01,16.66666603,11
2011-02-01,16.66666603,12.66666698
2011-03-01,14,10
2011-04-01,10.66666698,11.66666698
2011-05-01,6,10.66666698
2011-06-01,2.666666746,8.333333015
2011-07-01,3.666666746,7.333333492
2011-08-01,4.333333492,6.333333492
2011-09-01,2,6.333333492
2011-10-01,-.6666666865,1.666666627
2011-11-01,-1.666666627,2.666666746
2011-12-01,-3,8.333333015
2012-01-01,-.6666666865,12
2012-02-01,2.333333254,12
2012-03-01,6,13
2012-04-01,7.333333492,12.66666698
2012-05-01,7.333333492,11.33333302
2012-06-01,5.666666508,6.666666508
2012-07-01,0,3.333333254
2012-08-01,-4.333333492,1.333333373
2012-09-01,-2.666666746,1
2012-10-01,-.6666666865,2.333333254
2012-11-01,2,5
2012-12-01,0,4.333333492
2013-01-01,-4.333333492,9
2013-02-01,-4,10
2013-03-01,-2.666666746,9
2013-04-01,-.6666666865,2
2013-05-01,-2.666666746,1.333333373
2013-06-01,-1.333333373,4
2013-07-01,1,6
2013-08-01,5,6
2013-09-01,2.666666746,4.333333492
2013-10-01,3.333333254,3.333333254
2013-11-01,3.333333254,1.333333373
2013-12-01,8,3
2014-01-01,9.666666985,3.333333254
2014-02-01,6,4.666666508
2014-03-01,.3333333433,4.333333492
2014-04-01,.3333333433,7.333333492
2014-05-01,3.666666746,8.666666985
2014-06-01,6.666666508,9
2014-07-01,6.333333492,10.33333302
2014-08-01,7.666666508,13
2014-09-01,11,16.66666603
2014-10-01,15.66666698,19.33333397
2014-11-01,12.66666698,22
2014-12-01,9.666666985,19.33333397
2015-01-01,4.333333492,16.33333397
2015-02-01,3.333333254,15.66666698
2015-03-01,-.3333333433,17
2015-04-01,-4.333333492,15.33333302
2015-05-01,-3.333333254,10.33333302
2015-06-01,1.333333373,11.66666698
2015-07-01,7,16.66666603
2015-08-01,7,24.66666603
2015-09-01,3.666666746,21
2015-10-01,2.333333254,17.66666603
2015-11-01,1.666666627,8.666666985
2015-12-01,3.666666746,9.666666985
2016-01-01,3.333333254,9.333333015
2016-02-01,0,8.666666985
2016-03-01,2.666666746,9.333333015
2016-04-01,3.666666746,7.333333492
2016-05-01,6.666666508,8
2016-06-01,-.3333333433,3.666666746
2016-07-01,.3333333433,1.333333373
2016-08-01,-1,1
2016-09-01,-.6666666865,4
2016-10-01,-3,6.333333492
2016-11-01,.3333333433,8
2016-12-01,4.666666508,7.666666508
2017-01-01,8.333333015,12.66666698
2017-02-01,12.66666698,16.66666603
2017-03-01,16,17
2017-04-01,17.66666603,16.33333397
2017-05-01,12.33333302,17.66666603
2017-06-01,10.33333302,20.66666603
2017-07-01,9.333333015,18.33333397
2017-08-01,13,17.66666603
2017-09-01,15.66666698,18.66666603
2017-10-01,15,22.66666603
2017-11-01,20.33333397,25.33333397
2017-12-01,20.66666603,26.33333397
2018-01-01,21.33333397,25
2018-02-01,20.66666603,24
2018-03-01,19,24
2018-04-01,13.33333302,18
2018-05-01,9.333333015,12.66666698

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Estimating Aggregate Fiscal Multipliers from Local Data

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Fifth District Surveys of Manufacturing and Service Sector Activity

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