Regional Matters

How does Fifth District manufacturing activity vary by size? The Richmond Fed Manufacturing Survey found that large firms are more optimistic, including about the impact of recent tariffs, compared to small and mid-sized firms.

Conversations with businesses since the last FOMC cycle did not suggest any big shifts in the economy; economic conditions remained stable.

This post explores the experiences of rural CDFIs using data from the most recent CDFI Survey, including funding challenges and reliance on federal funding.

While most Fifth District firms intend to increase full-time employment or hold it steady due to projected demand increase, others intend to decrease through attrition or a combination of attrition and layoffs.

The recent changes to how federal agencies define metro areas impact how we report, analyze, and better understand the Fifth District.

This post summarizes the 2025 Federal Reserve CDFI Survey and reviews past results to shed light on how the CDFI industry has changed over time.

This post shares sensing insights from business contacts in recent weeks. Overall, businesses said activity increased somewhat while expectations remained mixed, labor availability improved, and more cost passthrough was expected.

Foreign-born workers have made outsized contributions to the Fifth District's labor force growth, but the concentration of these workers varies across industry and geography.

Though tariff uncertainty persists, most Fifth District businesses that are directly affected by tariffs have raised prices, and many plan to raise prices in the coming months.

We are learning from businesses that there are several factors that can delay both the incurring of tariffs and the impact of incurred tariffs on pricing decisions.