Fifth District manufacturing declined in November, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index is at -9 in November, up 1 from October.
The complete data series behind today’s Richmond Fed manufacturing report, which dates from November 1993, is available here.
Here is a snapshot of the complete Richmond Fed Manufacturing Composite series.
Some Fifth District manufacturing firms reported softening conditions in November, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index remained negative but edged up from to -10 in October -9 in November. 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. Link to Report
Here is a somewhat closer look at the index since the turn of the century.
Is today’s Richmond composite a clue of what to expect in the next PMI composite? We’ll find out when the next ISM Manufacturing survey is released (below).
Let’s compare all five Regional Manufacturing indicators. Here is a three-month moving average overlay of each since 2001 (for those with data).
Here is the same chart including the average of the five.
Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.
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