Maryland Survey of Business Activity

June 29, 2017

Maryland Firms Remained Generally Upbeat in June

Overview

Conditions among firms in Maryland continued to improve, according to results from the latest survey by the Federal Reserve Bank of Richmond. The general business conditions index remained high, at 30, and the sales index moved up from 11 in May to 15 in June. Expectations for activity six months out moderated for some indexes but remained relatively healthy, with an index level of 18 for expected business conditions and 21 for expected sales.

Among indicators of labor market conditions, the current employment index declined to 5 in June from 8 in May, while the index for wages rose to 24 from 16. The index for the average workweek rose. A slight worsening of the index for skills availability suggested that more Maryland respondents struggled to find the skills that they need.

Maryland firms indicated that growth in prices paid and prices received accelerated somewhat in June, as did growth in expected prices.

Charts

Index Table

Survey Participation, Report, and Data Questions

Jeannette Plamp
Associate Regional Economist
(804) 697-8152