Skip to Main Content

Fifth District Survey of Manufacturing Activity

November 24, 2020

Reports from Fifth District manufacturers were broadly positive in November, according to the most recent survey from the Richmond Fed. The composite fell from 29 in October to 15 in November, but remained firmly in expansionary territory, as all three component indexes — shipments, new orders, and employment — had positive readings. Manufacturers reported improvement in local business conditions, but the spending indexes softened somewhat. Survey participants were optimistic about the future, expecting growth to continue in the coming months.

Survey results suggested that employment and wages grew for many contacts in November, but businesses struggled to find workers with the necessary skills. Contacts expected this difficulty to continue, and for employment and wages to grow, in the next six months.

The average growth rates of both prices paid and prices received by survey respondents increased in November. Average growth of prices paid continued to outpace that of prices received, and firms expected price growth to continue in the near future.

Read Full Report
Download Current and Historical Data

Past Reports

Subscribe to Regional Research

Receive an email notification when regional surveys and reports are posted online:

phone Contact Us

Regional Survey Team (804) 697-8702