Fifth District manufacturing declined in October, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index is at -10 in October compared to 0 in September.

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.

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

Many Fifth District manufacturing firms reported weaker conditions in October, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index fell from 0 in September to −10 in October, dipping below its August level. Two of its three component indexes deteriorated notably: the indexes for shipments and volume of new orders fell from 14 and −11 in September to −3 and −22 in October, respectively. The third component, the employment index, remained unchanged at 0 in October, as hiring challenges persisted. 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.

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