The Richmond Fed's monthly manufacturing index rose to a reading of 13 in May from 3 in April, much higher than the expectations for a smaller increase to 4 in a survey compiled by Bloomberg.
Other regional manufacturing data already released have been generally stronger.
Released at the same time, the services revenue index rose to 14 in May from 9 in April. Other services data have been mixed.
Redbook US same-store sales rose by 9% from a year earlier in the week ended May 23 after an 8.1% year-over-year increase in the previous week."Demand for a wide variety of summer, home and garden, and seasonal apparel products was the main focus for most consumers," Redbook said.Through the third selling week for May, sales were 8.9% higher compared with May 2025, more than the target for an 8.6% gain, according to Redbook.