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Maryland Survey of Business Activity

March 1, 2018

Maryland Firms Reported Steady Growth in February

Overview

Business activity in Maryland appeared to improve steadily according to results from the latest survey by the Federal Reserve Bank of Richmond. The general business conditions indicator inched up from 16 to 17 in February and most measures of growth were positive.

A greater share of Maryland were reportedly adding workers but continued to struggle to find the skills they needed, as the availability of skills index came in at −12. Wage gains continued among Maryland firms this month but were not as widespread as in January. Similarly, the metrics reflecting capital expenditures and of services expenditures remained positive but were lower in February.

Firms saw the growth rate in prices paid accelerate in February but decelerate for prices received. Firms expect both to accelerate in coming months. Maryland firms remained optimistic overall, as each of the expectations indicators (except equipment spending) increased in February.

Charts

Index Table

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Regional Survey Team
(804) 697-8702