Richmond Fed Manufacturing: Continued Expansion in June
Today the Richmond Fed Manufacturing Composite Index jumped to 20 for the month of June, up from last month's 16. Investing.com had forecast 15. Because of the highly volatile nature of this index, we include a 3-month moving average to facilitate the identification of trends, now at 11.0, which indicates expansion. 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.
Here is the latest Richmond Fed manufacturing overview.
Fifth District manufacturing continued to expand in June, according to results of the most recent survey from the Richmond Fed. The composite manufacturing index rose from 16 in May to 20 in June, buoyed by an increase in all three components (shipments, new orders, and employment). Firms also saw an increase in backlog of orders, as the index rose to its highest value of this year. Respondents were optimistic in June, expecting growth to continue across most indicators. Link to Report
Here is a somewhat closer look at the index since the turn of the century.
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).