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

2012 Economic Calendar

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Richmond Fed Manufacturing Index

Released On 8/28/2012 10:00:00 AM For Aug, 2012

	Prior	Consensus	Consensus Range	Actual
level change	-17	-10	-12 to -7	-9

Highlights
Manufacturing reports so far this month from the different Fed districts are decidedly negative. The Richmond Fed's manufacturing index is at minus 9.0 indicating monthly contraction in general activity though at a less severe rate than July's minus 17 reading. Less severe contraction is about the only good thing that can be said in this report with new orders, at a very weak minus 20, only a bit improved from July's minus 25. Backlog orders also show slightly less severe contraction. One plus is a marginally positive reading for shipments, while one striking negative is employment which has moved into the minus column. Next regional report will be Thursday from the Kansas City Fed.

Market Consensus before announcement
The Richmond Fed manufacturing index fell sharply in July to minus 17 to show very deep contraction versus only fractional contraction in June of minus 1. New orders plunged to minus 25 from June's already very weak minus 7. Backlogs, at minus 27, extended their run of deep contraction.

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