Richmond Fed Manufacturing Survey Reported Slowing Growth In January 2018

 Of the three regional Federal Reserve surveys released to date, all are in expansion.

Analyst Opinion of Richmond Manufacturing

The important Richmond Fed subcategories improved or remained the same, The internals are better than last month.

Market expectations from Bloomberg / Econoday was 17 to 21 (consensus 18). The actual survey value was 14 [note that values above zero represent expansion].

Summary of all Federal Reserve Districts Manufacturing:

Richmond Fed (hyperlink to reports):

(Click on image to enlarge)

z richmond_man.PNG

Kansas Fed (hyperlink to reports):

(Click on image to enlarge)

z kansas_man.PNG

Dallas Fed (hyperlink to reports):

(Click on image to enlarge)

z dallas_man.PNG

Philly Fed (hyperlink to reports):

(Click on image to enlarge)

z philly fed1.PNG

New York Fed (hyperlink to reports):

(Click on image to enlarge)

z empire1.PNG

Federal Reserve Industrial Production - Actual Data (hyperlink to report):

(Click on image to enlarge)

Holding this and other survey's Econintersect follows accountable for their predictions, the following graph compares the hard data from Industrial Products manufacturing subindex (dark blue bar) and US Census manufacturing shipments (lighter blue bar) to the Richmond Fed survey (darkest bar).

(Click on image to enlarge)

In the above graphic, hard data is the long bars, and surveys are the short bars. The arrows on the left side are the key to growth or contraction.