Fifth District Survey of Manufacturing Activity: Average employee workweek: Future (increase vs decrease; diffusion index; percentage points; seasonally adjusted) - United States - Richmond FED - Monthly
This series is part of the dataset: Fifth District Survey of Manufacturing Activity (Richmond FED)
Download Full Dataset (.xlsx)Latest updates. Based on firms' responses to the Fifth District Survey of Manufacturing Activity carried out by the Richmond FED, the seasonally adjusted diffusion index for the average employee workweek (share of CEOs seeing a future increase minus share forecasting a decrease) was -4.0 in May 2022, compared to -1.0 in April 2022.
Sample. This monthly time series has 259 observations overall. The series covers the span of time extending from January 1993 to May 2022.
History. Have a look at a few statistics computed on the full sample: the diffusion index reached a minimum of -19.0 in April 2020; it hit a peak of 26.0 in June 2020; it had an average value of 9.0.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2022-03-31 | 1.0 |
| 2022-04-30 | -1.0 |
| 2022-05-31 | -4.0 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Will the average employee workweek increase or decrease over the next six months? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Leading indicator of the business cycle |
| Deflation method | Not applicable |
| Seasonally adjusted | Yes |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Richmond |
| Source type | Central bank |
| Data licence | Not copyrightable under U.S. law |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |