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Maryland Survey of Business Activity

Oct. 25, 2018

Maryland Firms Reported Weak Conditions in October

Overview

Maryland firms reported weak conditions in October, according to the results of the latest survey by the Federal Reserve Bank of Richmond. The indexes for both general business conditions and sales dropped into negative territory in October, but respondents expect both to improve in the coming months.

Survey results indicate that employment growth held fairly steady in October. However, firms were not able to find workers with the skills they needed, even as wages continued to grow. Firms reported spending growth in all areas and expect spending to continue grow in the near future.

Both prices paid and prices received continued to grow in October, although at a slower rate. Growth of prices paid remained higher than growth of prices received. However, firms expect growth to slow for prices paid and accelerate for prices received in the next six months.

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Regional Survey Team (804) 697-8702