Fifth District Survey of Manufacturing Activity: Average employee workweek: Future (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - 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 collected by the Federal Reserve Bank of Richmond, the seasonally unadjusted diffusion index for the average employee workweek (share of CEOs seeing a future increase minus share forecasting a decrease) was -3.0 in May 2022, compared to 3.0 in April 2022.
Sample. The monthly series plotted above has 343 observations overall. The series covers the period stretching from November 1993 to May 2022.
History. Have a look at a few statistics computed on the whole sample: the diffusion index averaged 9.1; it reached a minimum of -13.0 in April 2020; it attained a maximum of 29.0 in February 2011.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2022-03-31 | 4.00000 |
| 2022-04-30 | 3.00000 |
| 2022-05-31 | -3.00000 |
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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 | No |
| 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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