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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
United StatesUS Richmond Fed Manufacturing Shipments Index climbed to 16 in May 2026
FMPMonthlyReleased May 2026
US Richmond Fed Manufacturing Shipments Index climbed to 16 in May 2026, up 18 from April's -2 reading. The print exceeded the -1 consensus by 17. The print is running well above the 12-month average of -8.25. Over the past 3 months, Richmond Fed Manufacturing Shipments Index averaged -2, vs -9.67 in the prior 3-month window. Richmond Fed Manufacturing Shipments Index is now the highest in 36 months.
Latest Release
16
Actual
-1
Consensus
-2
Previous
Median Absolute Error
±10
across last 12 releases
Last Call
May 2026
Predicted: 6.5
Actual: 16
Error: -9.5
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| S&P 500 | ▼ Inverse | −0.94 | INDEX | Bearish S&P 500 | → View |
| XAU/USD | ▼ Inverse | −0.78 | COMMODITIES | Bearish XAU | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Richmond Fed Manufacturing Shipments Index (United States) was reported at 16.00 in May 2026. This beat the market consensus of -1.00 by 17.00. The reading rose from the previous value of -2.00. Trailing 12-month context per ETL data through May 2026. Over the past 12 months, the indicator has averaged -6.45, ranging from -20.00 to 16.00 across 11 releases.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 0.33, up from the prior three at -10.00. Volatility over the past year (σ 9.94) is higher than the prior year (σ 7.96). In May readings over the past 3 years, Richmond Fed Manufacturing Shipments Index has averaged 6.33.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with S&P 500 (Bearish S&P 500). A secondary relationship exists with XAU/USD, negatively correlated (Bearish XAU). Over the last 12 releases, the Sigmacast model's median absolute error is 10.00.
WHAT TO WATCH NEXT
The next release is scheduled for June 23, 2026. Same-country events in the next 14 days include Philadelphia Fed Manufacturing Index (Jun 18) and Initial Jobless Claims (Jun 18).
Auto-generated from current model state · Refreshes on each release · Last update May 2026.
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Richmond Fed Manufacturing Shipments Index - US
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About Richmond Fed Manufacturing Shipments Index — United States
DEFINITION
The Richmond Fed Manufacturing Shipments Index is a key economic indicator that measures the monthly change in the volume of shipments for manufacturing companies in the Richmond region. This index provides valuable insights into the health and growth of the manufacturing sector in this important economic hub, and is closely monitored by investors, policymakers, and businesses alike. A positive reading indicates an increase in shipments, while a negative reading suggests a decline, making it a crucial tool for assessing the overall economic climate and making informed financial decisions.
WHY THIS INDICATOR MATTERS
This release contributes to the broader macro picture used by cross-asset investors for positioning and risk management. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 16, consensus -1. Prior reading (Apr 2026): -2. Before that (Mar 2026): -2.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a materially higher reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with S&P 500 (Bearish S&P 500, r=-0.94) — a useful reference for index-focused traders.