Richmond Fed Manufacturing: Additional Declines In June

Fifth District manufacturing activity declined in June, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index stood at -19 in June compared to -9 in May.

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.

Richmond Fed Manufacturing

Here is an excerpt from the latest Richmond Fed manufacturing overview:

Fifth District manufacturing firms reported another decline in activity in June, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index fell from −9 in May to −19 in June, as two of its three component indexes dropped further into negative territory. The indexes for shipments and volume of new orders declined from −14 and −16 in May to −29 and −38 in June, respectively. The third component, the employment index, rose to 23 from 8 in May.
Link to Report

Here is a somewhat closer look at the index since the turn of the century.

since 2000

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.

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