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Maryland Survey of Business Activity

April 26, 2018

Maryland Firms Reported Mixed Business Conditions in April

Overview

Firms in Maryland saw mixed business conditions in April, according to results from the most recent survey by the Federal Reserve Bank of Richmond. The general business conditions indicator rose into expansionary territory at 14, after a particularly soft reading of −9 in March. Meanwhile, the sales indicator dropped to 0 following 12 straight months of positive readings.

While survey results suggest that employment and wages continued to grow in April, Maryland firms continued to have difficulty finding workers with the skills they needed. Firms expected this obstacle to persist in the coming months but were still optimistic that they would be able to hire.

Maryland firms saw a dip in the growth rate of input prices in April and an uptick in the growth rate of output prices. While output price growth still lagged input price growth, on average, firms expected output price growth to continue to accelerate in the coming months and eventually outpace growth of input prices.

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Regional Survey Team
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