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Carolinas Survey of Business Activity

March 1, 2018

Firms in the Carolinas Reported Strong Growth in February


According to the latest survey by the Federal Reserve Bank of Richmond, firms in the Carolinas saw strengthening business conditions in February. The general business conditions index rose from 19 to 27, and Carolinas firms reported expecting to see both business conditions and sales continue to improve in the coming months.

While Carolina firms saw continued growth in employment in February, they reported more difficulty finding required skills. Despite rising wages, the availability of skills index dropped from 0 to −9, indicating tightening labor supply. Firms expect to continue to struggle to find necessary skills in the next six months even as they plan to add workers.

Expenditures indicators remained positive but were lower than their January values, although firms expect expenditures to rise again. Meanwhile, they saw faster growth in prices paid while the growth rate of prices received dropped to a four-month low. However, firms expect to see accelerated growth in both prices paid and prices received in the next six months.


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Regional Survey Team (804) 697-8702