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Carolinas Survey of Business Activity

June 26, 2025

Business activity in the Carolinas remained soft in June, according to the most recent survey from the Federal Reserve Bank of Richmond. The general business conditions index increased from −17 to −10 in June, and the corresponding expectations index increased from −12 to −8. The sales index edged down from −5 in May to −7 in June. Its corresponding expectations index increased notably from 0 to 18.

The employment index edged down to −1 in June while the wages index edged down from 18 to 17. Firms expected to increase wages over the near term, as the forward-looking wages index remained firmly in positive territory. Firms reported increased difficulty finding workers with the desired skills and anticipated further difficulty over the next six months.

Average year-over-year growth in prices paid and prices received increased in June. Firms expected growth in prices paid to moderate somewhat over the next 12 months and expected growth in prices received to increase slightly over the same period.

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