The prior month came in at -2
- Richmond Fed manufacturing index comes in better than expected at +2 versus -15 estimate
- prior month was at -2
- services revenue index +1 versus +26 in February
- shipments index +13 versus +1 in February
- new orders come in at 0 versus -10 last month
- backlog of orders -8 versus -6 last month
- employment -7 versus +8 last month
- wages 20 versus 26 last month
- average workweek 3 versus -4 last month
- local business conditions -15 versus 6 last month
- capital expenditures 9 versus 6 last month
- equipment and software spending 9 versus 0 last month
- service expenditures -10 versus 0 last month
- price is paid 1.29% versus 1.95% last month (annualized)
- prices received 1.22% versus 1.54% last month (annualized)
Although the current conditions were more favorable than expectations, the future expectations showed more weakness:
- shipments -19 versus +28 last month
- new orders -20 versus +40 last month
- backlog of orders -9 versus +22 last month
- number of employees 1 versus 11 last month
- wages 36 versus 31 last month
- average workweek -12 versus 3 last month
- capital expenditures 11 versus 19 last month
- services expenditures -10 versus 13 last month
- equipment and software spending 3 versus 13 last month
The numbers suggest a tale of 2 economies. The current held up but the expectations going forward are not positive.
