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 recent survey data about manufacturing firms 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, versus -1.0 in April.
Sample. There are 343 records overall in the monthly series shown in the graph above. The series covers the time range stretching from November 1993 to May 2022.
History. Here's a snapshot of a few summary statistics calculated on the full sample: the diffusion index had an average value of 9.1; it hit a minimum of -19.0 in April 2020; it hit a peak of 26.0 in June 2020.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2022-03-31 | 1.00000 |
| 2022-04-30 | -1.00000 |
| 2022-05-31 | -4.00000 |
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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) |
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