Richmond Fed manufacturing index for January 8 vs 14 estimate

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.

Looking at the expectation components, there are 6 components that are higher and 11 that are lower.

For the full report CLICK HERE