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Maryland Survey of Business Activity

Sept. 27, 2018

Maryland Firms Reported Mixed Conditions in September

Overview

Maryland firms reported mixed conditions in September, according to the results of the latest survey by the Federal Reserve Bank of Richmond. The general business conditions index jumped from −5 in August to 8 in September. While the sales index remained unchanged at 0, firms anticipated growth in sales and improved conditions in the next several months.

Employment and wages continued to grow in September, but firms still struggled to find employees with the skills the needed, as the availability of skills index fell to −26, its lowest reading on record. Firms anticipate further employment growth and continued difficulty finding skills in the near future.

Both prices paid and prices received by Maryland firms grew at an accelerated pace in September, as growth in prices paid continued to outpace growth of prices received. Firms expect price growth to slow in the coming months, but believe that prices paid will continue to rise faster than prices received.

Charts

Index Table

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Regional Survey Team
(804) 697-8702