2013 Economic Calendar
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Richmond Fed Manufacturing Index  
Released On 1/22/2013 10:00:00 AM For Jan, 2013
PriorConsensusConsensus RangeActual
Level3  to 13 -12 

If you take stock in the regional reports, the early outlook for the January manufacturing sector is decidedly negative. First the Empire State report, then the Philly report, and now the Richmond report point to monthly contraction for January with Richmond's reading, at minus 12, showing noticeably sharp contraction following two months of gains.

Orders are way down in the Richmond region so far this month, at minus 17 for new orders and at minus 19 for backlog orders. An absence of orders points to future weakness for shipments and employment both of which, at minus 11 and minus 5, already show contraction for January. The workweek is down and wages are down.

Hinting at the risk of stagflation are inflation data which show a rise for inputs, one tied to the rise underway in fuel prices, but also showing moderating pricing power for finished goods in what reflects the generally soft conditions. The Kansas City Fed will post its monthly results on Thursday as will Markit Economics with its flash reading on the national sector.

Consensus Outlook
The Richmond Fed manufacturing index for December lost four points, settling at 5 from November's reading of 9. Among the index's components, shipments fell five points to 6, the gauge for new orders was almost unchanged at 10, and the jobs index turned negative, losing six points to minus 3. Looking forward, assessments of business prospects for the next six months were less optimistic in December as the index of expected shipments lost eight points, ending at a reading of 20, and the new orders index dropped 13 points to finish at 12.

This survey tracks business conditions in the Richmond Fed's manufacturing sector. The headline index is a composite of the new orders, shipments, and employment indexes.

 Why Investors Care

2013 Release Schedule
Released On: 1/222/263/264/235/286/257/238/279/2410/2211/2612/24
Release For: JanFebMarAprMayJunJulAugSepOctNovDec

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