Here Comes The Richmond Fed Manufacturing Index...

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At 10:00 a.m. ET, the Richmond Federal Reserve will release the its manufacturing index.

Economists estimate the index to rebound to +2, from last month’s reading of -2.

These regional Fed index offer great anecdotal information about what’s going on in local economies.

“Philadelphia Fed and Markit manufacturing surveys improved in June, suggesting, on balance, some slight expansion in factory activity,” noted UBS’s Sam Coffin. “The NY Fed survey was weaker. Although the headline current activity index rose sharply, details of the survey were weak and on an ISM- equivalent basis fell further into contractionary territory.”

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