The Richmond Fed Manufacturing Survey has now risen for 7 straight months, soaring to 22 in March - the highest since April 2010.
This smashed expectations by over six standard deviations as new orders, employees, workweek, and wages all soared.
Given the stagnation of industrial production, there must be something very special in Richmond...
Copnsider - the last time Richmond Fed printed this high, Industrial Production was growing at over 8% YoY!! Today it is up 0.3%!