Fifth District Survey of Manufacturing Activity

Oct. 24, 2017 10 a.m.

Reports on Fifth District Manufacturing Activity Remained Positive in October

Overview

Reports on Fifth District manufacturing activity remained positive in October, according to the latest survey by the Federal Reserve Bank of Richmond. The composite index dropped, affected by a notable decline in the shipments index, which fell from 22 to 9, but it remained positive across all components, indicating continued growth. While most manufacturing indexes fell in October, the wage index increased from 17 to 24, which is the highest it has been since May of 2000.

Manufacturing firms remained optimistic about growth in the next six months. Most expectations indexes rose, with the exception of employment and average workweek, which both remained positive and were well above current values.

District manufacturing firms reported that prices grew in October, although at a slightly lower rate than during September. They expect price growth to accelerate in the coming six months.

Charts

Index Table

Survey Participation, Report, and Data Questions

Jeannette Plamp
Associate Regional Economist
(804) 697-8152