US October Richmond Fed composite index -4 versus -17 last month

  • The Richmond Fed October 2025 index for services and manufacturing shipments
manufacturing

Current conditions

  • Fifth District Manufacturing Index: -4 vs -17 → Higher

  • Shipments: 4 vs -20 → Higher

  • Volume of New Orders: -6 vs -15 → Higher

  • Backlog of Orders: -16 vs -21 → Higher

  • Capacity Utilization: -10 vs -18 → Higher

  • Vendor Lead Time: 6 vs 10 → Lower

  • Local Business Conditions: -1 vs -12 → Higher

  • Capital Expenditures: -10 vs 11 → Lower

  • Finished Goods Inventories: 15 vs 11 → Higher

  • Raw Materials Inventories: 17 vs 17 → Unchanged

  • Equipment & Software Spending: -10 vs -11 → Higher

  • Services Expenditures: -24 vs -17 → Lower

Employment

  • Number of Employees: -10 vs -15 → Higher

  • Wages: 15 vs 13 → Higher

  • Availability of Skills Needed: -7 vs -2 → Lower

Price Trends

  • Prices Paid: 5.81 vs 7.22 → Lower

  • Prices Received: 3.04 vs 4.02 → Lower

The current conditions is higher but still negative for the month.. Employment is better but still down, prices paid in prices received were lower.

Expectations 6 month forward

  • Shipments: 13 vs 0 → Higher

  • Volume of New Orders: 12 vs 8 → Higher

  • Backlog of Orders: -12 vs -8 → Lower

  • Capacity Utilization: 5 vs -10 → Higher

  • Vendor Lead Time: 1 vs 1 → Unchanged

  • Local Business Conditions: -5 vs -14 → Higher (less negative)

  • Capital Expenditures: 1 vs -7 → Higher

  • Finished Goods Inventories: 4 vs 9 → Lower

  • Raw Materials Inventories: 8 vs 7 → Higher

  • Equipment & Software Spending: -6 vs -5 → Lower

  • Services Expenditures: -17 vs -26 → Higher (less negative)

Employment

  • Number of Employees: 2 vs 4 → Lower

  • Wages: 40 vs 48 → Lower

  • Availability of Skills Needed: 4 vs -12 → Higher

Price Trends

  • Prices Paid: 4.68 vs 6.47 → Lower

  • Prices Received: 3.63 vs 4.74 → Lower

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