Prior month came in at 1
The Richmond Fed Manufacturing index came in at 7 vs 5 estimate (a few seconds early too). The prior month came in at 1.
- Shipment index 11 vs -2 last
- Services revenue index 19 vs 34 last.
- New orders 6 vs 0 last
- Employment 5 vs 6 last
- Wages 9 vs 23 last
- Backlog orders -4 vs -15 last
- Avg workweek -5 vs -3 last
- Prices paid +1.31% (% change from the previous month annualized) vs 1.37% last
- Prices received 0.90% (%change from the previous month annualized) vs 1.08% last
The data is better than expectations but from the chart above, the index does have a lot of up and down volatility.
