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Richmond Fed Index Plummets Amid 12-Month Manufacturing Decline

2/25/2026

Summary

Story summary

In February 2026, the Federal Reserve's Fifth District manufacturing index fell to -10, down from -6 in January.
The index has been negative for 12 consecutive months, with shipments and new orders declining and tariffs and rising producer inflation fueling weakness.
Prices paid remained high but grew more slowly.
The Richmond Fed Manufacturing Index shows continued contraction in the Mid-Atlantic, and firms expect slower price growth over the next year.

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Story summary

In February 2026, the Federal Reserve's Fifth District manufacturing index fell to -10, down from -6 in January.
The index has been negative for 12 consecutive months, with shipments and new orders declining and tariffs and rising producer inflation fueling weakness.
Prices paid remained high but grew more slowly.
The Richmond Fed Manufacturing Index shows continued contraction in the Mid-Atlantic, and firms expect slower price growth over the next year.