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Carolinas Survey of Business Activity

November 25, 2020

Firms in the Carolinas generally reported growth in November, according to the most recent survey from the Federal Reserve Bank of Richmond. The indexes for general business conditions and sales increased from 15 and 12 in October to 20 and 25 in November, respectively, their highest readings since April 2019. Survey participants also reported increased capital spending and were optimistic that growth would continue in the coming months.

Survey results indicated that employment and wages increased for many firms in the Carolinas, but workers with the necessary skills were difficult to find. Respondents expected these trends to continue in the near future.

The average growth rates of both prices paid and prices received by survey participants increased in November, as growth of prices paid continued to outpace that of prices received. Firms expected price growth to slow in the next six months.

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