December 6, 2022

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June Richmond Fed 22 vs 18 exp

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June Richmond Fed 22 vs 18 exp


June Richmond-area manufacturing survey

Richmond Fed index
  • Prior was 18
  • shipments 8 versus 12 last month
  • new orders 35 versus 18 last month
  • employees 19 versus 25 last month
  • wages 37 versus 31 last month
  • order backlog 22 versus 36 last month
  • capacity utilization 5 versus 10 last month
  • capital expenditures 12 versus 16 last month
  • equipment and software 16 versus 19 last month
  • prices paid 9.42% versus 9.82% annualized percent change
  • prices received 5.0% versus 5.41% last month
six month forward-looking indices see:

  • shipments 50 versus 39 last month
  • new orders 38 versus 38 last month
  • number of employees 51 versus 44 last month
  • wages 66 versus 64 last month
  • capacity utilization 35 verse 41 last month
  • capital expenditures 37 versus 42 last month

This is a positive report but there’s plenty of nuance below the surface. Overall though, manufacturing looks to be a source of strength in the US economy through year end and beyond.

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