Maryland Survey of Business Activity

Sept. 28, 2017

Reports Indicate Improved Conditions Among Maryland Firms in September

Overview

Firms in Maryland reported improved business conditions in September, according to the latest survey by the Federal Reserve Bank of Richmond.

The general business conditions index jumped from 12 to 22 while the sales index reached 26 after an August reading of 10. Meanwhile, a higher share of firms reported increased spending on business services, capital, and equipment/software.

Labor market reports were generally consistent with the positive readings on the business conditions index. The employment index rose, as did the indicator for average work week.

The slight rise in the skills availability index indicated that a smaller share of employers were having difficulty finding the skills that they need, but that index remained negative. On the other hand, the wages index was positive but declined from 31 to 21 in September.

Charts

Index Table

Survey Participation, Report, and Data Questions

Jeannette Plamp
Associate Regional Economist
(804) 697-8152