Richmond Fed manufacturing index for October +8 versus -7 estimate

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Richmond Fed manufacturing index for October 2019

  • Prior month -9
  • shipments 4 versus -14 in September
  • new orders 7 versus -14 in September
  • number of employees 13 versus 3 in September
  • average workweek 10 versus -10 in September
  • wages 15 versus 24 in September
  • backlog orders 6 versus -11 in September
  • vendor leadtime -3 versus 7 in September
  • finished goods inventories 5 versus 13 in September
  • raw material inventories 19 versus 24 in September
  • price is paid 2.4% versus 2.68%*
  • prices received 1.71% versus 2.59%*
  • the index is at the highest level since April when it reached 9.0. 
  • The low for 2019 reached -12 in July 
  • The high for 2019 reached 14 and February

* percent change in prices from the previous month (annualized)

The Richard Fed composite manufacturing index draws from shipments, new orders and employment

Index values greater than 0 suggest expansion, while values less than 0 indicate contraction

The index covers activity in the 5th Federal Reserve district which includes the District of Columbia, Maryland, Virginia, North Carolina, South Carolina, and most of West Virginia

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