Federal Reserve Bank of Richmond (04/26/22)
Mid-Atlantic manufacturing activity continued its expansion in April, according to the Federal Reserve Bank of Richmond. The composite manufacturing index stood at 14 in April compared with 13 in March. Shipments increased to 17 from nine, while the volume of new orders moved down slightly to six from 10.
Manufacturers continued to report growth in employment while experiencing challenges finding workers with the necessary skills. The wage index increased to 41 in April from 37, and firms don’t expect the increase in wages to let up.
