- Prior month -13
- Richmond Fed composite index for May -9 versus -13 last month
- Services index -11 versus -7 last month.
-
Composite Manufacturing Index: Rose to -9 from -13 in April, signaling a modest improvement in manufacturing activity, though still in contraction (below zero).
Details from the Richmond Fed.
Component Indexes:
-
Shipments: Improved to -10 from -17 in April, reflecting a less severe decline in goods shipped.
-
New Orders: Rose to -14 from -15 last month, indicating a slight uptick in demand but continued weakness.
Employment: Edged up to -2 from -5, suggesting a stabilization in labor market conditions, though still slightly negative.
Other Key Metrics (based on typical survey structure from the Richmond Fed):
-
Backlogs -19 versus -24 last month,
-
Inventories 18 versus 23 last month,
-
Vendor Lead Times 15 versus one last month:Capacity Utilization: Expected to have improved marginally, tracking with shipments and new orders.
-
Wages 23 versus 24 last month
-
Prices paid 5.35 versus 5.37 last month.
-
Prices received 2.73 versus 2.65 last month
Service Sector Context: The survey also noted a decline in the services revenues index to -11 from -7, indicating weaker performance in the service sector, which contrasts with manufacturing’s slight improvement.
ForexLive.com
is evolving into
investingLive.com, a new destination for intelligent market updates and smarter
decision-making for investors and traders alike.
