Chart Of The Day: Richmond Fed Survey
From Streettalk Daily X-Change
January 22, 2013 - 4:16pm
The latest release of the Richmond Federal Reserve Manufacturing Survey showed little to excited about. The current survey tacks onto the New York and Philadelphia Fed surveys showing the boost of activity, as we originally expected , from Hurricane Sandy is now fading. For the month of January the Richmond region showed a decline to -12 after two previous months of gains.
The chart of the composite index, however, doesn't really show the underlying weakness in the subcategories. The chart of the day, shown below, compares the changes between the January 2012 and 2013 surveys.
Weakness has accelerated accross the entire spectrum of the survey. New Orders, at -17, are down substantially in the recent month and are sharply lower from this time last year. Backlogs are also being depleted at -19. The absence of orders points to future weakness for shipments and employm...
Continue reading this article »
Share This Article: