Highlights
Growth is slowing sharply this month in the Richmond Fed manufacturing sector, underscoring the even weaker results in last week's Mid-Atlantic report from the Philly Fed. The Richmond Fed's manufacturing index fell 10 points to 4 to indicate a slowing to only a slight rate of monthly growth.

Shipments are flat this month and new orders show only minimal growth. Lack of growth in new orders together with what is a big contraction in backlog orders point to weakness for future shipments.

Inventories of raw materials are up in the month but the build appears to be planned and not related to the monthly weakness in shipments. A big plus in the report is a rise in employment. Price trends are stable. The readings in this report point mostly to slowing in manufacturing, a disappointment but still a contrast to the Philly Fed's data that point to outright contraction.

Market Consensus before announcement
The Richmond Fed manufacturing index rose seven points in April to 14. Growth in new orders rose in the month while shipments surged.

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