Richmond Fed manufacturing index for January 2021
Richmond Fed Manufacturing index for January
- Manufacturing index 8 vs 14 estimate and 16 last month
- shipments increase slightly to 14 in January from 12 last month
- new orders 8 versus 17 last month
- employment 4 versus 19 last month
- wages 40 versus 37 last month (second-highest value on record)
- average workweek 6versus 10 last month
- availability skills needed -19 versus -21 last month
- backlog of orders 2 versus 26 last month
- capacity utilization 4versus 21 last month
- vendor leadtime 50 versus 35 last month
- local business conditions -4 versus -2 last month
- capital expenditures 16 versus 14 last month
- finish good inventories -13 versus -7 last month
- raw materials inventories -17 versus -22 last month
- equipment and software spending 15 versus 21 last month
- services expenditures 2 versus 3 last month
- prices paid 14.32 versus 13.98 last month
- prices received for 11.27 versus 8.26 last month
Wages, and prices are certainly trending more to the upside. That is a concern going forward.
Price trends and wages remain elevated
Looking at the expectation components, there are 6 components that are higher and 11 that are lower.
Expectations components for the Richmond index
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