United States Richmond Fed Manufacturing Index

Last Release

Mar 31, 2025

Actual

-4

Units In

Points

Frequency

Monthly

Next Release

Apr 22, 2025

Time to Release

26 Days 13 Hours

Highest	Lowest	Average	Date Range	Source
28 Mar 2004	-45 Apr 2020	2.23 Points	1993-2025	Federal Reserve Bank of Richmond

The Richmond Manufacturing Index measures the conditions of the manufacturing sector for the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and most of West Virginia. The index is derived from a survey of 190 manufacturing plants and based on three individual index with the following weights: Shipments (33 percent), New Orders (40 percent) and Employment (27 percent). The index can range between +100 and -100; a reading above zero indicates expansion, while below zero suggests a contraction.

Latest Updates

The composite manufacturing index in the US Fifth District fell to -4 in March 2025 from +6 in the prior month and defying market expectations of +8. This signals a fresh downturn in the manufacturing sector, led by a notable drop, from 12 to -7, in the shipments index. Of its other two component indexes, new orders decreased slightly to -4, and employment fell to -1 from 9. The local business conditions index fell from -5 in February to -13 in March, while the future local business conditions index dropped sharply from 2 to -22. The future shipment index decreased from 13 to 7, and the future new orders index edged down to 6. The vendor lead time index rose to 12 in March, and the backlog of orders index increased from -6 to -1. The average growth rate of prices paid saw a notable increase, while the growth rate of prices received rose, but at a slower pace. Firms expect stronger price increases for inputs and some growth in prices received over the next 12 months.