Richmond Fed manufacturing activity trending lower
- Prior was -11
- Manufacturing shipments -15 vs -3 prior
- New orders -24 vs -24 prior
- Backlog of orders -29 vs -31
- Employees -7 vs -3 prior
- Prices paid 7.90 vs 7.91 prior
- Prices received 5.54 versus 6152 prior
- capacity utilization -17 versus -7 prior
- Wages 31 vs 41 prior
- vendor lead time -17 versus -13 prior
- local business conditions -13 versus -13 prior
- capital expenditures -3 versus -1 prior
- finished goods inventory 13 versus 14 prior
- raw materials inventory 21 versus 21 prior
- equipment and software spending -1 versus non-prior
- services expenditure -12 versus -10 prior
6 month of forward expectations
- shipments eight versus -7 prior
- new orders 14 versus -6 prior
- backlog of orders -7 versus -27 prior
- employee versus 16 prior
- prices paid 4.52 versus 3.96 prior
- prices received 2.85 versus 3.72 prior
- capital expenditures 4 versus 4 prior
- services expenditures -8 versus -15 prior
From the Richmond Fed:
- Of its three component indexes, shipments saw the largest change, declining notably from -3 in January to -15 in February. The employment index declined from -3 to -7 in February, while the new orders index remained unchanged at -24.
- The average growth rate of prices paid remained nearly unchanged, while the average growth rate of prices received decreased in February. Firms expect both to moderate over the next 12 months.
\Inflation
