Econoday Economic Report: Richmond Fed Manufacturing Index November 27, 2012

2012 Economic Calendar

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Richmond Fed Manufacturing Index

Released On 11/27/2012 10:00:00 AM For Nov, 2012

	Prior	Consensus	Consensus Range	Actual
level change	-7	-8	-10 to -1	9

Highlights
Manufacturing activity is picking up sharply in the Richmond Fed's district this month with the index at plus 9 vs October's minus 7. New orders show special strength as do shipments. Employment is also up while prices paid, reflecting lower energy prices, is down. Hurricane Sandy, which had a major effect on the Philly Fed's November report, apparently had little impact on the Richmond Fed's region. The next regional manufacturing report will come from the Kansas City Fed on Thursday.

Market Consensus before announcement
The Richmond Fed manufacturing index dropped to minus 7 in October from plus 4 the prior month, a reversal that points to outright contraction in monthly activity. This index first dipped into negative ground in June. New orders are once again contracting, to minus 6 from plus 7. Backlog orders remain in contraction while shipments, like new orders, are moving back into 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