Highlights
Manufacturing indications have been slowing but not those from the Richmond Fed whose index rose seven points in April to 14. Growth in new orders rose in the month while shipments surged. Inventories are rising incrementally as they should though backlog orders, which are building but just barely, could be stronger.

Of notable strength are readings on employment including a rising pace of monthly growth in the sample's workforce as well as increasing gains in wages which is a welcome sign for the consumer sector. This is a healthy report that underscores areas of strength in last week's otherwise soft regional reports from the New York and Philly Feds. Tomorrow will see major hard data on the month of March with the government's durable goods report.

Market Consensus before announcement
The Richmond Fed manufacturing index declined to 7 in March from 20 the prior month. Other indicators showed much of the same pattern as new orders index slowed by 10 points to 11, still over zero to indicate a monthly increase but significantly less of an increase than February. Also, the shipments index dropped to 2 from 25 in February.

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