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Maryland Survey of Business Activity

Nov. 30, 2017

Maryland Firms Reported Slowing Growth in November


Firms in Maryland reported moderate growth in November, according to the latest survey by the Federal Reserve Bank of Richmond. General business conditions improved in November, but firms saw slowing sales growth and reported softening across several other indicators.

A smaller share of Maryland firms reported growth in employment and wages in November, with these indexes dropping from 20 to 12 and 27 to 16, respectively. However, firms expect to see growth in both employment and wages in coming months. Many firms continued to report low availability of skills needed, as this indicator remained negative, although it was slightly improved from October.

Maryland firms reported slower price growth in November for both prices paid and prices received. They expected prices to increase a little faster in the next six months, but had revised their forecasts of price growth downward from October.


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