Econoday Economic Report: Richmond Fed Manufacturing Index February 28, 2012

2012 Economic Calendar

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Richmond Fed Manufacturing Index

Released On 2/28/2012 10:00:00 AM For Feb, 2012

	Prior	Consensus	Consensus Range	Actual
level change	12	13	10 to 19	20

Highlights
Regional manufacturing surveys aren't getting much attention following today's steep declines in durable goods data, but the surveys have been uniformly positive and today include gains for the Richmond Fed's index which rose a very sizable eight points to 20. New orders, backlog orders, shipments, employment, and the workweek all show solid monthly acceleration in the Richmond district. Price readings, despite the increase underway for oil prices, are stable.

Regional manufacturing reports pointed to strength in January -- which again contrasts sharply with today's durable goods results -- and they point to accelerating strength this month. The ISM report, whose anecdotal methodology is similar to the regional manufacturing data, will offer its look at the national manufacturing sector on Thursday.

Market Consensus before announcement
The Richmond Fed manufacturing index in January jumped 9 points to 12 to indicate significant acceleration underway. January gains for Richmond included new orders, shipments, capacity utilization and employment.

Definition
This survey provides a comprehensive set of indicators of business conditions within the fifth region's manufacturing sector. The survey provides participants' knowledge of recent changes in manufacturing activity as well as insights into expected developments in six months. The data are released the fourth Tuesday of each month. The headline index is the composite for current month activity. It is a weighted average of the shipments (33%), new orders (40%) and employment (27%) indexes. (Federal Reserve Bank of Richmond) Why Investors Care

2012 Release Schedule

Released On: 1/24 2/28 3/27 4/24 5/22 6/26 7/24 8/28 9/25 10/23 11/27 12/26

Release For: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

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Actual Data Source: Haver Analytics