Skip to Main Content
Federal Reserve Bank of Richmond
Menu

Maryland Survey of Business Activity

April 25, 2024

Maryland firms reported deteriorated business conditions in April, according to the most recent survey from the Federal Reserve Bank of Richmond. The general business conditions index decreased from −4 to −21 in April. Meanwhile the current sales index declined from −13 in March to −43 in April. The future indexes for business conditions and sales, however, increased slightly, suggesting that businesses expect improvements in these areas over the next six months.

All three spending indexes decreased in April. The equipment and software spending index fell the most, from 0 to −21.

The employment index decreased to −21 in April, and firms reported increased difficulty finding workers with the desired skills. Firms anticipate continued difficulty finding workers with the necessary skills over the coming months. Meanwhile, the wages index remained elevated.

On average, year-over-year growth in prices paid and prices received decreased slightly. Firms expect growth in prices to moderate over the next 12 months.

Read Full Report
Download Current and Historical Data

Past Reports

March 28, 2024
Business Activity in Maryland Was Sluggish in March
Feb. 29, 2024
Business Activity in Maryland Was Sluggish in February
View More

Subscribe to Economic Data

Receive an email notification when regional surveys and reports are posted online:

Subscribe to Economic Data

By submitting this form you agree to the Bank's Terms & Conditions and Privacy Notice.

Phone Icon Contact Us

Regional Survey Team (571) 287-0448