Richmond Fed manufacturing composite index -10 vs. 0 last month. Expected -5.

Richmond Fed manufacturing index for the month of October 2022

• Composite index -10 vs. 0 last month. Expected -5
• services index -8 vs. 0 last month
• manufacturing shipments -3 vs. 14 last month
• new orders -22 vs. -11 last month
• backlog of orders -28 vs. -25 last month
• capacity utilization -9 vs. -4 last month
• capital expenditures 18 vs. 22 last month
• number of employees 0 vs. 0 last month
• wages 34 vs. 40 last month
• availability of skills needed -14 vs. -6 last month
• prices paid 12.81 vs. 10.34 last month
• prices received 8.62 vs. 7.66 last month

Expectations indices showed:

• shipments -4 vs. 18 last month
• new orders -16 vs. 13 last month
• employment 10 vs. 19 last month
• wages 47 vs. 61 last month
• availability of skills needed -16 vs. -2 last month
• prices paid 6.08 vs. 5.14 last month
• prices received 4.8 vs. 4.5 last month
• capital expenditures 8 vs. 20 last month

There was little indication of supply chain relief since August, as the indexes for vendor lead time and backlog of orders remained steady, although both have improved dramatically since earlier this year.

The average growth rate of prices paid and prices received both increased again in October, after moderating in September. Expectations for both over the next 12 months also increased slightly from September. Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term is still a concern and moving higher.

Employment remains neither stronger nor week at 0.0 for the 2nd consecutive month. Wages index dipped to 34 from 40 but still remains high at 34 (inflationary).

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