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. According to survey data about manufacturers based in the Fifth District, 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 the previous month.
Sample. There are 345 records overall in the monthly series displayed in the figure above. The span of time covered by the series extends from January 1993 to May 2022.
History. Check out some descriptive statistics we calculated on the full sample: the diffusion index recorded a maximum of 26.0 in June 2020; it recorded a minimum of -19.0 in April 2020; it had an average value of 9.1.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2022-03-31 | 1.0 |
| 2022-04-30 | -1.0 |
| 2022-05-31 | -4.0 |
Heads-up. An advantage of using FetchSeries is that we publish rich metadata. Find it below to learn more about the attributes of the time series that you use in your work.
Not for investment purposes. Data available on this web site are not intended for investment purposes or other financial decisions. Users should consult professional advice and perform independent analysis before taking any financial risk.
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) |
Series in the same data set
Discover the other time series included in this data set.