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Maryland Survey of Business Activity

Dec. 28, 2017

Maryland Firms Reported Modest Growth in December


Maryland firms reported modest growth in December, according to the latest survey by the Federal Reserve Bank of Richmond. General business conditions improved at a slower pace as the index decreased from 24 in November to 13 this month.

Firms also reported growth in employment, wages, and total expenditures, although a smaller fraction of firms saw an increase in wages than had in the past several months. The indicator for availability of skills remained negative but was somewhat improved, increasing from −10 to −8. Firms expected general conditions to improve in the next six months, along with stronger growth in both sales and employment.

Maryland firms saw increases in both prices paid and prices received in December, although at a slower rate than in November. However, firms expect to see higher price growth in the next six months.


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