Richmond Fed manufacturing activity
- Prior 0 for the composite. Services in manufacturing index -13 and +7 respectively
- Composite index for August -8 versus 0 last month
- Services -12 versus -13 last month
- Manufacturing -8 versus +7 last month
- shipments -10 versus seven last month
- new orders -20 versus -8 last month
- employment 11 versus 8 last month
- wages 27 versus 30 last month
- availability of skills needed -3 versus -19 last month
- backlog of orders -24 versus -15 last month
- prices paid 12.47 versus 12.49 last month
- prices received 9.31 versus 8.92 last month
- local business conditions -14 versus -13 last month
- vendor leadtime -14 versus -13 last month
- capital expenditures 18 versus 14 last month
- finished goods inventories -5 versus zero last month
- raw materials inventory -3 versus +3 last month
- equipment and software spending 14 versus 14 last month
- services expenditures nine versus -5 last month
Composite index reached a low this year -9 in June
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Looking at the chart of the recent survey results, the dip at or below the 0 is on its 3rd month. The positive point is that the vendor leadtime and backlog of orders – measures of supply chain - are showing declines. That is indicative of an easing of the supply chain issues that have plagued manufacturing and led to higher prices.
/Inflation
