Research >> Economics
Richmond Fed's Current Activity Index rose from −5 to 20 in January
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Fifth District manufacturing activity rebounded in January, according to the most recent survey from the Richmond Fed. The composite index rose from −5 in December to 20 in January, as all three components — shipments, new orders, and employment — increased. Local business conditions also improved as this index saw its largest increase since February 2013. Manufacturers were optimistic that conditions would continue to strengthen in the coming months.
Survey results indicate that both employment and wages rose for survey participants in January. However, firms continued to struggle to find workers with the necessary skills. They expected this difficulty to persist but wages and employment to continue to grow in the next six months.
The average growth rates of both price paid and prices received by survey respondents fell in January. Growth of prices received outpaced that of prices paid, but firms expect the growth rate of prices paid to rise and that of prices received to fall in the near future
Posted: January 28, 2020 Tuesday 10:00 AM