Highlights
Mixed are the signals coming from manufacturing with news from the Richmond Fed pointing to new troubles for the region's sector. The index fell to minus 7 in this month's reading from positive 4 in September, 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. Manufacturers in the region continue to cut back their work forces. Tomorrow, the PMI flash will offer a gauge on this month's national manufacturing sector followed on Thursday by hard evidence of what September conditions were like with the durable goods report.

Market Consensus before announcement
The Richmond Fed manufacturing index rose to plus 4 in September from minus 9 in August for the first positive reading since May. And the gain included a rise in new orders which at 7 was also the first positive reading since May, and compares with steep declines of minus 20 and minus 25 in the prior two reports. In a partial offset, backlog orders, at minus nine, continue to contract though the drawdown is growing much less severe.

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