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Carolinas Survey of Business Activity

April 25, 2024

Business activity in the Carolinas improved in April, according to the most recent survey from the Federal Reserve Bank of Richmond. The general business conditions index increased from 6 in March to 14 in April, and the corresponding expectations index remained unchanged at 17. The sales index increased notably from 0 in March to 13 in April, and its corresponding expectations index remained firmly in positive territory.

The employment index edged up from 4 in March to 7 in April while the wages index decreased slightly, and firms reported little improvement in their ability to find workers with the necessary skills. Most firms expect wages to continue increasing over the near-term and anticipate little improvement in their ability to find workers with the desired skills over the next six months.

Average year-over-year growth in prices paid decreased slightly in April, while average growth in prices received increased slightly. Firms expect price growth to moderate somewhat over the next year.

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Past Reports

March 28, 2024
Business Activity in the Carolinas Was Flat in March
Feb. 29, 2024
Business Activity in the Carolinas Was Sluggish in February
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Regional Survey Team (571) 287-0448