- Prior month -10 (expected -5)
- Manufacturing composite index for November
- Services index -2
- Shipments -8 vs. -3 last month
- new orders -14 vs -22 last month
- prices paid 10.19 vs. 1221 last month
- prices received 9.91 vs. 8.62 last month
- number of employees -1 vs 0 last month
- wages 25 vs. 34 last month
- availability of skills needed -12 vs. -14 last month
- backlog of orders -25 vs. -28 last month
- capacity utilization -16 vs. -9 last month
- lender lead times -10 vs. -15 last month
- local business conditions -6 vs. -16 last month
- capital expenditures 8 vs. 18 last month
- finished goods inventories 1 vs. -2 last month
- raw materials 24 vs. 20 last month
- equipment and software spending 12 vs. 12 last month
- services expenditures -9 vs. 4 last month
Looking and expectations six-month forward:
- shipments 15 vs. -4 last month
- new orders 3 vs. -16 last month
- backlog of orders -20 vs. -25 last month
- employees 20 vs. 10 last month
- wages 55 vs. 47 last month
- availability of skills needed 1 vs. -16 last month
- capital expenditures 20 vs. 8 last month
- lender lead time -15 vs. -24 last month
From the Richmond Fed:
Of its three component indexes, the indexes for shipments and employment deteriorated slightly, edging downward to -8 and -1, respectively. The third component index, volume of new orders, however, showed some improvement, increasing from -22 to -14 in November.
Despite dramatic improvements throughout this year, supply chain issues appeared to persist for some firms, as the indexes for vendor lead time and backlog of orders increased slightly.
The average growth rate of prices paid decreased in November, while the average growth rate of prices received increased somewhat. Expectations for prices paid over the next 12 months decreased slightly since last month, while expectations for prices received increased slightly. Both remained at levels much lower than current price trends.
The wage index decreased notably from 34 to 25 in November but remained elevated. The local business conditions index rose from -16 in October to -6 in November, with considerably fewer firms pessimistic about conditions over the next six months
/Inflation
