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Carolinas Survey of Business Activity

April 29, 2021

Business conditions in the Carolinas strengthened in April, according to the most recent survey from the Federal Reserve Bank of Richmond. The indexes for general business conditions and sales rose from 30 and 21 in March to 36 and 28, respectively, in April. Firms also reported increased capital spending, and they expected conditions to continue to improve in the near future.

Survey results indicated that many firms increased employment and wages in April. However, firms were often unable to find workers with the necessary skills. Survey respondents expected this struggle to continue and employment and wages to continue to grow in the next six months.

The average growth rate of prices paid by survey participants fell in April, while that of prices received rose, narrowing the gap between them. Respondents expected growth of both prices paid and prices received to accelerate in the coming months.

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