Though the Richmond Fed Manufacturing Survey is valued for its quick turnaround, it is still released after the ISM survey. As a result, the figure is often used to affirm or question the ISM report, and has little impact on markets. The Richmond Fed Manufacturing Survey also asks manufacturing executives to stress price expectations. Some markets participants use this data as an early gauge to CPI and PPI reports released a few days later.

The headline figure is a three-month average, calculated by finding the percentage difference between positive and negative responses for the last three months, using a zero boom/bust centerline.

Note: The survey covers such topics as shipments, order volume, backlog volume, capacity utilization, vendor lead time, employees, average workweek, wages, inventory levels, and capital expenditures. The Fifth District includes the District of Columbia , Maryland , both Carolinas, and most of the Virginias .

Relevance : Rarely affects markets
Release schedule : 10:00 AM (EST); monthly, second Tuesday of the month following the reporting month
Revisions schedule : Annual seasonal adjustments
Source of report : Federal Reserve Bank of Richmond
Web Address : http://www.richmondfed.org/
Address of release :
http://www.richmondfed.org/research/regional_conditions/manufacturing_conditions/index.cfm
AKA : Federal Reserve Bank of Richmond : Manufacturing Activity for the Fifth District