Richmond Fed Manufacturing Softens in November

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.

Richmond Fed Manufacturing

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

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.

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).