Richmond Fed: Fifth district manufacturing activity saw robust growth in November

"Manufacturing firms reported robust growth in November. The composite index jumped from 12 to 30, the highest it has been since 1993," the Federal Reserve Bank of Richmond announced on Tuesday.

Key highlights

This rise was bolstered by strengthening conditions across all three components of the index.

While indicators of current wages and finished goods fell in November, both maintained positive values, dropping from 24 to 21 and 14 to 9, respectively.

Manufacturing firms reported stronger price growth in November, as growth rates for both prices paid and prices received reached a three-month high.

They expect prices to continue to grow in the next six months but at a slightly lower rate.