The Federal Reserve Bank of Richmond’s Regional Economic Snapshot reported a loss of 8,000 North Carolina manufacturing jobs in the last year. This is more than the U.S., which has a .6 percent loss, while North Carolina sits at a 1.7 percent loss.

The Richmond Fed reports a Fifth District Manufacturing Index, which is a gauge of broad activity in the district’s manufacturing sector. It is a composite index representing a weighted average of the shipments (33 percent), new orders (40 percent), and employment (27 percent) indexes. That index fell to -13 in April from -4 in March. Shipments and new orders fell most notably to -17 and -15, respectively, and employment fell slightly to -5 from -1.

Each index equals the percentage of responding firms reporting increase minus the percentage reporting decrease. The local business conditions index dropped from -13 in March to -21 in April, while the index for future local business conditions fell notably from -22 to -37. The future indexes for shipments and new orders fell considerably, with shipments decreasing from 7 to -20 and new orders falling from 6 to -26.

While the average growth rate of prices received increased somewhat, the average growth rate of prices paid increased notably, and firms expect heightened growth in prices paid and prices received over the next 12 months.

As the state affiliate for the National Association of Manufacturers and convener of the NC Manufacturing Council, the NC Chamber is committed to championing North Carolina’s manufacturers.