Richmond Fed Manufacturing Flat in September

Fifth District manufacturing was flat in September, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index is at 0 in September compared to -8 in August.

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.

Richmond Fed Manufacturing

Here is an excerpt from the latest Richmond Fed manufacturing overview:

Many Fifth District manufacturing firms reported little change in activity in September, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index rose from 8 in August to 0 in September, matching its July level. Two of its three component indexes improved notably: the indexes for shipments and volume of new orders rose from 8 and to 14 and -- 20 in August 11 in September, respectively. However, the third component, the employment index, fell to 0 from 11 in September, as hiring challenges persisted. Link to Report

Here is a somewhat closer look at the index since the turn of the century.

since 2000

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).