Tuesday, January 24, 2012

Stat of the Day: Richmond Fed New Orders Surge

The Richmond Fed Manufacturing survey saw a surprise jump in just about every category for January. The overall index jumped to 12 from 3 and more than doubled estimates of 6. More importantly though was the new orders jumping to 14 from 7. This suggests continued strength heading into February.

The Richmond Fed which stretches from Maryland to South Carolina is generally not viewed as a key economic report, but it always gives the earliest insight into manufacturing for the current month. Heck, even some economists that I follow don't bother estimating the index each month.

For some reason, the Richmond Fed website isn't working so I had to pull this data from another report.


  • shipment index showed the most impressive performance January, soaring by 14 points from December to 17. 
  • employees index jumped eight points, to 4, from a negative reading in the previous month. 
  • new orders index doubled to 14 from its December showing.
  • current prices paid index rose to 2.53, up from December's reading of 1.55



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