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Maryland Survey of Business Activity

September 30, 2021

Maryland businesses reported some growth in September, according to the most recent survey from the Federal Reserve Bank of Richmond. The general business conditions index and the sales index fell from 12 and 17 in August to 8 and 6, respectively, in September, but they remained in expansionary territory. Businesses reported increased capital spending and were optimistic, overall, that conditions would improve in the next six months.

Survey results suggested that many Maryland firms increased employment and wages in September. However, firms struggled to find workers with the necessary skills. They expected this difficulty to continue and employment and wages to continue to grow in the near future.

The average growth rate of prices paid by survey respondents declined in September, while that of prices received increased, but growth of prices paid continued to outpace that of prices received. Survey participants expected growth of prices paid to slow further in the near future.

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Download Current and Historical Data

Date,General Business Conditions,Sales,Employment,Wages,Capital Expenditures
2011-09-01,2.698638201,5.537634373,8.093436241,12.78892326,8.738398552
2011-10-01,-1.728517413,.5376344323,6.000261784,12.93711281,3.73839879
2011-11-01,-1.746144772,2.141723871,4.387358665,18.44566154,6.470639229
2011-12-01,-.3723524809,2.884924412,2.824858665,17.54741287,2.354548454
2012-01-01,3.20049715,1.932543516,1.877934217,17.25299072,3.762999058
2012-02-01,7.071170807,1.923436046,4.100156307,14.05626965,1.604529142
2012-03-01,13.39888191,3.492063522,11.75043011,16.32917786,9.086046219
2012-04-01,20.14163589,11.91570854,17.34375954,21.29922676,12.35595798
2012-05-01,21.38684845,10.17241383,25.46636581,23.1957798,14.71228027
2012-06-01,14.90356541,9.692188263,21.770895,21.74167061,9.26632309
2012-07-01,10.94954205,2.88759017,18.96629715,17.2129364,10.58796024
2012-08-01,9.800116539,3.432054758,12.64445782,14.91408539,11.24333477
2012-09-01,11.01245213,5.856725216,12.77128792,16.06708908,16.80081177
2012-10-01,11.02414799,6.380534649,10.44380283,19.00276184,14.37224007
2012-11-01,16.15058517,14.13492107,7.10108614,23.07172775,11.69387722
2012-12-01,15.14749813,7.190476418,.5503175855,23.05912971,8.657848358
2013-01-01,9.65612793,7.666666508,-5.040896416,23.5868721,5.899427891
2013-02-01,4.270506859,7,-1.146004915,21.45615196,6.566094398
2013-03-01,5.202731609,5.611111164,8.806123734,18.83269501,5.520491123
2013-04-01,8.143399239,3.944444418,17.73191452,22.75935173,8.253582001
2013-05-01,7.04417181,5.429293156,16.18705559,24.5567379,7.102066994
2013-06-01,12.80947781,15.98484802,9.537395477,27.89007187,10.06125069
2013-07-01,19.70959663,22.36782646,7.335858822,23.47222137,10.77047062
2013-08-01,23.49747467,19.42561531,7.406330585,19.68434334,13.04319763
2013-09-01,14.95973873,9.001086235,5.944066525,21.61830521,13.70357513
2013-10-01,4.697393417,2.618107319,3.07790494,17.61577988,6.979120255
2013-11-01,3.362616777,.3681546152,9.279455185,16.94629478,8.746797562
2013-12-01,-2.316818953,-3.750327826,8.927993774,7.512332439,3.086419821
2014-01-01,-3.165584326,-8.005646706,3.560028553,8.63787365,6.944444656
2014-02-01,-2.588383913,-11.1820507,-5.001556396,8.465608597,5.934343338
2014-03-01,14.12878799,6.694293022,.0438766256,13.34365749,12.60101032
2014-04-01,20.05827522,14.87118149,11.09508991,14.24213028,14.41724968
2014-05-01,21.39517403,20.34313774,16.12357903,17.58970833,14.44695854
2014-06-01,16.20998764,13.24854279,21.06754875,20.819767,14.44695854
2014-07-01,25.40731239,18.21586227,21.87043762,24.37924767,16.31429291
2014-08-01,24.71014404,15.77577591,26.24613571,26.0236187,17.66505623
2014-09-01,26.73930168,20.29944801,27.87542343,21.46160889,16.79549026
2014-10-01,18.88100815,15.11426353,30.92815208,16.58957672,11.72302723
2014-11-01,20.21756172,20.45096397,28.58464432,19.24144363,13.04347801
2014-12-01,12.48211765,11.29707909,22.49180031,23.271101,5.695989132
2015-01-01,10.92012119,6.852634907,14.47453213,27.43391418,11.49309063
2015-02-01,10.59993267,6.236003399,8.945841789,23.66215324,8.122682571
2015-03-01,17.23214531,11.66236019,12.37140179,24.78204727,14.11751461
2015-04-01,18.05340195,12.40310097,14.59156799,23.51778603,12.76485825
2015-05-01,22.26851845,12.72328949,23.66635895,25.66425133,13.85342789
2015-06-01,25.04629707,12.40409184,24.02867699,26.22785759,15.12326908
2015-07-01,30.25097466,25.01670456,27.37315941,32.65669632,15.94198227
2015-08-01,32.96562195,29.60607719,24.84917068,33.71878815,22.08855438
2015-09-01,27.22488022,23.72372437,20.86366272,31.70590401,20.81871414
2015-10-01,23.71610832,12.9629631,19.15426064,23.15889549,17.30994225
2015-11-01,16.14035034,-.3703703582,18.93288231,15.70791531,7.309941292
2015-12-01,15.14418221,2.01058197,21.25172234,11.79487133,6.313773155
2016-01-01,10.07910061,-.9165386558,23.60214996,19.16666603,13.16153717
2016-02-01,2.440211296,-2.995391607,23.08080864,19.87373734,14.1337595
2016-03-01,2.913504124,-3.293010712,26.21806335,27.32471848,19.77639389
2016-04-01,.9835344553,.4849607646,25.57703781,25.08112717,14.68301392
2016-05-01,3.992793798,2.881274223,26.26815987,30.68984604,15.37745857
2016-06-01,5.904558182,3.362043381,22.96830177,30.47463799,12.11988258
2016-07-01,8.779460907,.6593406796,20.17795563,25.12018967,13.66161633
2016-08-01,6.843434334,.5439005494,19.24916267,25.27498817,7.853535175
2016-09-01,5.396065712,5.874534607,20.43740654,25.81699371,3.77458787
2016-10-01,7.440904617,10.04120159,25.05925369,31.23249245,3.602131605
2016-11-01,14.28433895,14.6255064,23.72018242,31.99767685,12.46576786
2016-12-01,11.37985516,5.249287605,16.02787399,25.23439217,10.71138191
2017-01-01,8.733254433,.3734012246,3.726287365,21.86137581,5.833333492
2017-02-01,2.899921179,-4.571653843,-2.020201921,14.32257366,.7751938105
2017-03-01,3.751773119,-3.090172291,4.313131332,14.64141369,3.108527184
2017-04-01,10.33333302,2.619047642,7.090909004,18.03030396,4.775193691
2017-05-01,21.33333397,8.666666985,9,20.33333397,6.666666508
2017-06-01,29,13.66666698,4.333333492,23.66666603,7.666666508
2017-07-01,27.66666603,10.66666698,9,25,9.333333015
2017-08-01,20.66666603,10.33333302,11.66666698,30,13
2017-09-01,18,14,17,29,19
2017-10-01,18,16.33333397,19,26.33333397,25
2017-11-01,22,15.66666698,17.66666603,21.33333397,25
2017-12-01,19,8,16.66666603,19.33333397,25.33333397
2018-01-01,17.66666603,6,12.33333302,18.66666603,20.66666603
2018-02-01,15.33333302,5.666666508,12.33333302,18.66666603,18.33333397
2018-03-01,8,5.666666508,12,22.33333397,11.66666698
2018-04-01,7.333333492,3.333333254,13.33333302,23.66666603,9.666666985
2018-05-01,1.666666627,2.666666746,14.33333302,27.66666603,8.333333015
2018-06-01,13,12.66666698,16.33333397,30,15.33333302
2018-07-01,7.333333492,13.66666698,18.66666603,29,20.66666603
2018-08-01,5.666666508,12,15.33333302,27.66666603,19.66666603
2018-09-01,0,1,11,23.66666603,13.33333302
2018-10-01,-3,-5,8,24.66666603,8.333333015
2018-11-01,-4.666666508,-9.333333015,3.666666746,25,6
2018-12-01,-10.33333302,-12.33333302,-7,25.33333397,6.666666508
2019-01-01,-12.66666698,-10,-11,24,2.666666746
2019-02-01,-15,-9,-14,28,1
2019-03-01,-14.33333302,-7.333333492,-2,30.33333397,-2
2019-04-01,0,4.666666508,5.666666508,36.66666794,5.666666508
2019-05-01,2,6.666666508,15,37.33333206,11.66666698
2019-06-01,12.66666698,11.33333302,13.66666698,41,20.33333397
2019-07-01,3.333333254,.6666666865,3.333333254,33.33333206,15
2019-08-01,1.333333373,-4.666666508,.6666666865,29,13.33333302
2019-09-01,-10,-11,-4,27.33333397,2
2019-10-01,-10.33333302,-11.33333302,-5,26.33333397,.6666666865
2019-11-01,.3333333433,-2,-7.333333492,26.66666603,-1.333333373
2019-12-01,2,-4,-7.333333492,22.66666603,0
2020-01-01,3.666666746,1.666666627,-2.666666746,32.33333206,0
2020-02-01,7,4.666666508,4.333333492,31.66666603,-2.666666746
2020-03-01,2.666666746,12.66666698,7,29.66666603,-4
2020-04-01,-19.66666603,-10,-4,14,-11.33333302
2020-05-01,-46,-26.33333397,-12,3.333333254,-21.66666603
2020-06-01,-44,-36.33333206,-15,-4,-21.33333397
2020-07-01,-15.33333302,-19,-10.33333302,-9,-20.33333397
2020-08-01,-.6666666865,-11.66666698,-5.666666508,-8.333333015,-13
2020-09-01,5.333333492,-3,-4,-6,-12.66666698
2020-10-01,7,8,9.333333015,3.666666746,-4.666666508
2020-11-01,14.66666698,14.66666698,12,8.666666985,0
2020-12-01,2.333333254,5.333333492,17.33333397,11,.6666666865
2021-01-01,-12.33333302,-12.33333302,13,11.66666698,-3.666666746
2021-02-01,-15.33333302,-23,14,15.66666698,-4
2021-03-01,1.333333373,-12.66666698,12.66666698,19.33333397,-4.666666508
2021-04-01,18.66666603,3.333333254,16,26.66666603,0
2021-05-01,30.33333397,21.33333397,13,33,6.666666508
2021-06-01,34,25,14,38,10
2021-07-01,35,21.66666603,14.66666698,33.33333206,13.33333302
2021-08-01,26,16.66666603,16.66666603,30.66666603,12.33333302
2021-09-01,18.33333397,12.33333302,22,32,13