Skip to Main Content

Fifth District Survey of Manufacturing Activity

September 22, 2020

Manufacturing activity in the Fifth District improved in September, according to the most recent survey from the Richmond Fed. The composite index climbed from 18 in August to 21 in September, buoyed by increases in the indicators for new orders and employment. The third component index — shipments — decreased but remained positive, suggesting continued expansion. Survey results also reflected improvement in local business conditions and increased capital spending. Overall, respondents were optimistic that conditions would continue to improve in the next six months.

Results reflected higher employment among many survey participants in September and suggested several manufacturers raised wages over the month. Firms struggled to find workers with the necessary skills. Respondents expected to see a continued rise in employment and wages.

The average growth rate of prices paid by surveyed manufacturers rose in September, while that of prices received fell, widening the gap between the two. On average, firms expected growth rates of both prices paid and prices received to rise 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