Carolinas Survey of Business Activity

Oct. 26, 2017

Reports From Carolinas Suggested Slower Growth in October

Overview

Reports from firms in North Carolina and South Carolina indicated slower growth in October, according to the most recent survey by the Federal Reserve Bank of Richmond. The general business conditions and sales indexes remained positive, but dropped below September’s values. Particularly noticeable was a drop in the sales index from 23 in September to 11 in October.

Firms in the Carolinas also saw slower employment growth in October, accompanied by little change in the average workweek and a drop in availability of skills needed (from 4 to −9). However, survey respondents did report increased spending growth in October.

Firms observed more price growth in October than in September for both inputs and outputs. Businesses in the Carolinas expect growth in prices to continue to increase in the next six months.

Charts

Index Table

Survey Participation, Report, and Data Questions

Jeannette Plamp
Associate Regional Economist
(804) 697-8152